Investment project at the company IZA Srl
" Production Capacity Development for Transition from Plastics to Recycled and Biodegradable Packaging "
The company IZA Srl launched a new investment project " Production Capacity Development for Transition from Plastics to Recycled and Biodegradable Packaging " through co-financing from Innovation Norway in program of SMEs Growth in Romania, Green Innovation in Industry Area. The investment project is co- financed through Financial Mechanisms of EEA and Norway 2014-2021, within SMEs Growth in Romania.
Starting from May 2022, the company IZA Srl located in Focsani, Vrancea County, CUI RO7690919 launched its investment project for the production of recycled plastic products in the packaging industry, respectively extension of business activities and enlargement of production capacity also with launching of new products. Based on this investment, many new products will appear in the company’s portfolio such as biodegradable and recycled goods.
The total budget of the project is EUR 1,176,809 without VAT, of which the grant offers 930,500 EUR. In the project the company's production capacity will be developed through technology innovation, aiming to achieve a greener and environmentally friendly surrounding. Through the implementation of the project, the company IZA Srl will recycle approx. 4700 t of plastic waste per year and will be able to produce over 4000 t of recycled packaging products per year. By valuing the waste of plastics industry of Romania, an emission of 10,820 t/year of CO2 will be removed. In addition, different biodegradable products.
The project will result in newly created jobs and the reduction of air pollution and greenhouse gases in the region where the investment is made. The company IZA Srl is one of the well-known mass producers of plastics from Vrancea county. The innovation aims to support the transition from the linear economy, based on fossil resources to the circular economy, based on recycled and ecological materials. Through the investment the company IZA Srl will realize a best practice example to follow not only for the implementation region but also for the whole country of Romania.
Total budget: 1,176,809 EUR, Grant: 930,500 EUR
Implementation of the project: 01.06.2022 – 01.11.2023