Home Business Lexsz Plastics Limited invests $8m in Nigerian factory following China’s ban
Lexsz Plastics Limited invests $8m in Nigerian factory following China’s ban

Lexsz Plastics Limited invests $8m in Nigerian factory following China’s ban

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The Executive Director, Lexsz Plastics Limited, Oba Olufemi Akowe, has disclosed the company invested $8 million in Nigeria to set up a factory to store collated trash along the Lagos/Ibadan expressway.

The Polyethylene terephthalate plastic bottle recycling firm’s decision was prompted by China’s ban on any recycled plastic and unsorted scrap paper from abroad, and severely curbed imports of cardboard.

China, which is the world’s biggest scrap importer, was the major destination of choice for Lexsz Plastics Limited, but the ban caused Lexsz Plastics Limited to seek an alternative to store their products.

About the factory

The factory, situated on a 10-acre land, would cover broad areas in Ogun State communities. Collection of trash in the area will save a lot of energy and resources, as well as provide environmental protection in Lagos State, Akowe said.

“the company, based in the ogun state, serves the surrounding states covering a broad range of features, numerous recycling sites in the surrounding areas and there are 10,000 local workers for the factories recyclable plastics.

“the company’s products not only save a lot of energy and resources, but are also effective for environmental protection in lagos state. lexsz has contributed immensely to the lagos state waste management authority.

“we have helped our key stakeholders in converting waste to wealth. we have also developed a robust partnership with some private sector operators involved in packing and clearing domestic wastes from the cities and the villages.” akowe said.

the ed added that the firm “generates its energy from pressure reducing and monitoring station from the nigerian national petroleum corporation.”

The firm currently has four production lines refining and processing for the entire West African region.

-Nairametrics

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