Investment project at IZA Srl

"Production Capacity Development for Transition from Plastics to Recycled and Biodegradable Packaging"

 

The company IZA Srl is launching a new investment project "Production Capacity Development for Transition from Plastics to Recycled and Biodegradable Packaging" through co-financing from Innovation Norway in the SME Development Program in Romania, Green Innovation in Industry Area.

Starting with May 2022, the company IZA Srl based in Focsani, Vrancea County, CUI RO7690919 launches an investment project for the recycling of plastic products, the production of new products, respectively by producing recycled and biodegradable products. The investment project is co-financed by the EEA and Norway Grants, 2014-2021, within the framework of the SME Development Program in Romania, Green Innovation Area in Industry.

The value of the project is 1,176,809 EUR excluding VAT, of which the grant value is 930,500 EUR. Within the project, the company's production capacity will be developed through innovative, greener and more environmentally friendly technologies. By implementing the project, IZA Srl will be able to recycle approx. 4700 t/year of plastic waste, will be able to produce over 4000 t/year of recycled products, by valorizing plastic waste from various industries in Romania, and will be able to eliminate the emission of 10,820 t/year of CO2.

The project results will also mean newly created jobs, reduction of air pollution and greenhouse gases in the region of the investment within the company. The company IZA Srl is one of the best-known plastic producers in Vrancea County, and now a true innovation will be realized that will support the transition from a linear economy based on fossil resources to a circular economy, based on recycled and ecological materials. Therefore, through the current investment, the company IZA Srl will create an example of good practice not only for the implementation region but also for Romania.

The project is co-financed by Innovation Norway within the SME Development Program in Romania, Green Innovation in Industry Area.

Total budget: EUR 1,176,809, Grant: EUR 930,500

Project implementation: 01.06.2022 – 01.11.2023