GreenWEEE International, the electrical and electronic waste recycling company will build a third electronic waste recycling plant in Romania with a 10 million euros investment from private funds.
The construction of the new industrial facility will begin early next year in Buzau, on the Frasinu Industrial platform and open towards the end of 2022.
The project is the latest in a series of significant strategic investments of GreenWEEE as the company has committed to stimulating a sustainable economic model in line with EU aspirations towards shifting to a circular economy and tackling climate change.
“This new plant is in line with the Group’s strategic plan of continuous growth of the business through investments in a greener future, through the acquisition of new and innovative technologies, while playing an important part in the GHG emission reduction and keeping the materials in use”, said Marius Costache, General Manager of GreenWEEE.
Gyula Fatér, General Manager of OTP Bank Romania, the financial entity which is funding Romania’s new recycling facility pointed out that while the EU’s circular economy is connected to 300-380 billion euros of GDP “[…] in Romania there is a substantial need to move in this direction.”
“The benefits of the transition to a circular development model are linked to economic growth, employment, investment, all of these creating long-term sustainable growth”, he added.
According to GreenWEEE, at the end of the project, the number of the company’s employees will exceed 325 in Romania and its recycling capacity will increase by 30 per cent.
The company collects electric and electronic waste from the local market, retailers of electronics and appliances, sanitation companies, collectors and large producers. GreenWEEE is the only unit in Romania and one of the few in Europe operating under the WEEEBALEX license, a landmark European certification that sets standards and monitors the processing and disposal of WEEE.