Nigerian Breweries Plc has notified the Nigerian Exchange Limited (NGX) and the investing public that the Company has entered into a strategic partnership that will lead to the establishment of a food-grade recycled Polyethylene Terephthalate (“rPET”) production facility in Ogun State, Nigeria.
NB’s participation in the partnership will be limited to that of a minority investor with 29% equity interest. NB will play no role in the control or management of the business.
The project will be undertaken through Indorama Ventures Recycling Solutions Limited, a special purpose vehicle established to develop, own, and operate the recycling facility, and it is in collaboration with other global partners, including Indorama Ventures Public Company Limited “Indorama Ventures” (the major partner) and Genesis Energy Group “Genesis”, also a minority partner.
Indorama Ventures, a global sustainable chemical company, is the world’s leading recycler of PETs for beverages. The partnership will also benefit from the sustainable infrastructure and energy expertise of Genesis.
This strategic participation aligns with NB’s sustainability ambitions and supports the development and growth of the local recycling industry.
It also secures a reliable future supply of rPETs for NB’s operations, taking into cognisance the road map on mandatory rPET usage under the National Policy on Plastic Waste Management.
The proposed transaction is subject to all applicable regulatory approvals, technical validation, and operational implementation.
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