- Lamor will invest EUR 1.2 million in Resiclo Kilpilahti Oy, holding 50% of shares.
- The plant will recycle 10,000 tons of plastic annually, aiming for 40,000 tons by 2026.
- Construction starts in the second half of 2022, with operations beginning in 2023.
- Total investment for the first phase is estimated at EUR 12 million.
Project Overview
Lamor has signed an agreement with Resiclo Oy to construct a chemical recycling plant for plastics in the Kilpilahti area of Porvoo, Finland. This project marks a significant step in developing large-scale plastic recycling in Finland.
Capacity and Timeline
The plant's initial phase will have an annual capacity of 10,000 tons, with plans to expand to 40,000 tons by the end of 2026. Construction is set to begin in the second half of 2022, with commissioning scheduled for 2023.
Investment Details
Lamor will invest EUR 1.2 million in Resiclo Kilpilahti Oy, acquiring 50% of the shares. The total investment for the first phase is estimated at EUR 12 million. Additionally, Lamor will provide up to EUR 3 million in subordinated loans for future investments and will invest EUR 1.3 million in Resiclo Oy, holding an 11.8% stake.
Environmental and Regulatory Aspects
An environmental permit for the first phase is valid until January 2024, with a permanent permit application in process. The technology for the Kilpilahti site has been validated, and an agreement is in place with a leading plastic producer to sell the recycled product.
Market Context
According to the OECD, global plastic usage is projected to nearly triple by 2060, with a current recycling rate of less than 10%. This project aims to address plastic pollution and enhance the circular economy by increasing the amount of recycled plastics and sustainable raw materials in the industry.
