Delta Capital’s Myanmar Opportunities Fund II, a Norfund investee, announced this month its new investment in a plastic bottles recycler company in Myanmar.
Myanmar, a country of 54 million people, consumes approximately 2 billion plastic bottles per year.
A survey on plastic pollution in Myanmar (Fauna and Flora International, 2019) reveals that 119 tons of plastic waste enter the Ayeyarwady River every day , making it one of the most polluted rivers on the planet.
With this investment, Commercial Plastics Company (CPC) will become the first food-grade bottle-to-bottle recycler in Myanmar with high operating standards.
Will recycle 20% of plastic bottles in Myanmar
The aim is to collect and recycle over 20% of the plastic bottles produced in Myanmar.
With this, the plastic pollution in the ocean will be reduced and over 15,000 metric tons of CO2 emission will be avoided per year.
The Myanmar company will invest in state-of-the art equipment and start producing top-quality food-grade recycled plastic, Polyethylene Terephthalate (PET), for domestic sales and exports.
Norfund and Myanmar Opportunities Fund II
Myanmar Opportunities Fund II is an investment fund targeting SMEs in Myanmar. Norfund has been invested in the Fund since 2018 with a commitment of 10 million USD.
We in Norfund are excited to be part of this investment. Being established in 2016, CPC Myanmar has already become a leader in its field in Myanmar. When visiting the company earlier this year, we met a management team that was genuinely concerned with solving this major problem in Myanmar.Ole Kristian Sørlie, Senior Associate, Norfund