Lexsz Plastics Limited invests US$8m in new plastic recycling plant in Nigeria

NIGERIA – Plastic recycling firm, Lexsz Plastics Limited has invested US$8 million in setting up a Polyethylene terephthalate plastic bottle recycling plant on a 10-acre land in Lagos.

According to report by The Punch, Lexsz investment follows China’s decision to impose a ban on waste imports into the country, where the firm exported most of its products,

Oba Olufemi Akowe, The Executive Director, Lexsz Plastics Limited, said the firm provides recycling collection services for businesses and households, for processing.

The firm, according to him, has been into the collection of various beverage bottles and classifications of waste plastics recycling screening, washing and crushing in Yemen, port city of China.

Additionally, Oba noted that the firm has a State Administration of Quality Supervision, Inspection and Quarantine from China for the export of PET plastic bottles, preforms tablets and other raw materials.

He added that the firm currently had four production lines refining and processing for the entire West African region.

“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,” he explained.

Additionally, the firm also generates its energy from Pressure Reducing and Monitoring Station from the Nigerian National Petroleum Corporation.

Established in 2003, Lexsz has a current direct staff members of 400 while the indirect staff members were about 10,000, the management said.

On January 1, 2018, China, which is the world’s biggest scrap importer, stopped accepting virtually any recycled plastic and unsorted scrap paper from abroad, and severely curbed imports of cardboard.

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