Total P.E.T. Packaging has obtained a loan for $8.5 million from Banco Nacional for the New World Recycle company, which will build a PET recycling plant in the province of Cartago.
A statement from Total P.E.T. packaging reads:
Banco Nacional and New World Recycle sign loan agreement to build a PET bottle to bottle recycling plant
- Between 750,000 and 1 million plastic bottles per day will be recycled instead of polluting the environment.
- The new RPET resin can be used up to 100% in new containers.
Urban growth in the east of the Costa Rican capital is underpinned by investment proposals in the Special Economic Zone of Cartago.
The achievements of investment attraction in the province include the opening in November of Paseo Metropolis and the opening of the first phase of Oficentro Terra Campus Corporativo, said Silvia Hidalgo, Director of the Center for University-Industry Links at the Tecnológico de Costa Rica College.
Public and private entities in Cartago are pushing for the creation of a special economic zone (ZEE in Spanish).
The initiative aims to promote links between Small and Medium Enterprises (SMEs) in the area and large enterprises, while promoting job creation in the area of science and technology.
An article on El Financiero’s website in the SMEs section notes, "according to a report last June, by the Cartago Chamber of Commerce, published in the journal Somos Empresarios, the plan of creating a ZEE is consistent with development strategies formulated by Cinde, the Ministry of Foreign Trade (COMEX) and the Plan of Urban and Regional Planning of the Greater Metropolitan Area (PRUGAM).
At the moment, users of the free zones in the north of the country cannot be guaranteed quality electric energy at a reasonable price.
The plan is that the supply of energy will come from Cubujuqui, a hydroelectric project that will generate 20 megawatts and that will cost approximately $40 million.
Once Cubujuqui is completed, the processing of paperwork for the free zone will begin.