SRIW, a key partner in the regional strategy for plastic recycling & circular economy

For 40 years, SRIW (Société Régionale d’Investissement de Wallonie or Regional Investment Company of Wallonia) has been contributing to the development of the Walloon economy. It financially supports projects of Walloon companies or companies located in Wallonia that are active in a wide range of sectors (aerospace, digital, environment, agro-food, chemistry, energy, biotechnology…).

Alongside the positioning taken by the regional Government of Wallonia in its Innovation and Smart Specialisation strategy, key developments in the field of Circular Economy are anchored in the Regional Policy Declaration. Circular Economy has been identified as one of the solutions to key challenges that the world is facing today. But it is also a new opportunity for the development of emerging industries and the development of high added value products and services. Last year, the SRIW Group was entrusted by the Walloon Government to pave the way for providing a decisive boost to the setting-up of an integrated industrial plastic recycling sector on its territory. The approach was based on four main baselines: - A call for project based on ambitious objectives to be targeted by the applicants; - Financing by a public/private partnership approach. 60 M€ were dedicated by the Government to support the projects (equities and loans only); - The applicants were requested to demonstrate their ability to complete the missing elements in the regional plastic recycling value chain; - The proposed technologies had to demonstrate that the final output of the recycling would consist in high value- added products (new r-polymers). As such, a strong link is created between collected and sorted plastic fractions and industrial companies based on the territory and requiring polymers for their manufacturing process. 21 letters of intent for a total of 429 M€ investment were received. After an intense two months work of analysis carried out by SRIW, the Walloon Government made its choice among the most ambitious projects for Wallonia. This selection will result in the creation of six new plants on our territory by 2021, more than 150.000 tons of plastics recycled/year, 120 M€ investment (out of which 47 M€ of public funds) and the creation of 350 direct jobs. The projects are implemented by seven companies, ranking from SMEs to global companies: Lavergne Inc (Canada), LuxPet (PlastiPak Group), Machaon (France), Renewi, Suez and Van Heed in partnership with Total. Thanks to the particular call for projects, SRIW Group has created the conditions for entrepreneurial initiatives to emerge and has contributed to the fact that Wallonia is taking an active part in the ongoing societal and industrial transition towards the circular model. © SRIW Group Mr Olivier Vanderijst, chairman of the board of the Regional Investment Company of Wallonia (SRIW)

© Pixabay

SRIW thus backs up the Region to help it fulfill its responsibilities and meet the legitimate expectations of a growing public opinion on environmental protection. It confirms its commitment to reaping positive and lasting results, while reinforcing its avant-garde position in this area.

SRIW Facts & Figures: ± established 40 years ago; ± 60 employees; ± 2,4 billion shares; ± € 200 M invested in 99 companies in 2019; ± shared ownership in 411 companies.