Oba Olufemi Akowe, the Executive Director of Lexsz Plastics Limited, a Polyethylene terephthalate plastic bottle recycling firm, said the firm has decided to invest $8 million in Nigeria to set up a factory to store collated trash along the Lagos/Ibadan expressway.
The recycling firm’s decision was prompted by China’s ban on import of trash into its country. Recycled bottles, unsorted scrap paper from abroad and imports of cardboard were curbed from entering the country.
China, which is the world’s biggest scrap importer, was the major destination of choice for Lexsz Plastics Limited, but the ban caused the company to seek an alternative to store their products.
Akowe revealed that the factory is situated on a 10-acre land and would cover broad areas in Ogun State communities. Collection of trash in the area will save a lot of energy and resources, as well as provide environmental protection in Lagos State.
According to Akowe, “the company, based in 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”.
Akowe added that “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”.
The Executive Director noted that the company “generates its energy from Pressure Reducing and Monitoring Station from the Nigerian National Petroleum Corporation”.
Lexsz Plastics Limited currently has four production lines refining and processing for the entire West African region. The firm was established in 2003 to provide recycling collection services for businesses and households.