A loan agreement of €40 million (£34.3 million) has been made between the European Investment Bank (EIB) and Renewi for the development including new plastic recycling infrastructure.
It is part of a total investment of €100 million (£85.74 million) being made by Renewi.
This will lead to the construction of a new rigid plastics sorting facility in Acht in the Netherlands that will produce high-quality secondary plastics.
Renewi also plans to build three new sorting lines for residual, commercial and industrial waste in Belgium and upgrade an anaerobic digestion plant in the Netherlands.
EIB vice-president Kris Peeters said: “Waste treatment and disposal play an increasingly important role in limiting our emissions and the use of raw materials, meaning there is a strong case for managing them as efficiently as possible. I’m delighted that the EIB can support Renewi in its overall mission of giving new life to used materials, while also allowing it to increase the sustainability of its operations in Belgium and the Netherlands.“
Renewi chief financial officer Annemieke den Otter added: “Renewi is delighted to have the EIB’s endorsement in support of these investments in critical green infrastructure in the Netherlands and Belgium.
“Developing circular economies is essential to combat climate change, and significant investment in advanced technologies is required to support the transition to reusing more materials. We are ambitious to support this accelerating transition through continued investment and innovation as the waste-to-product partner of choice across the European Union, and we hope to expand our cooperation with the EIB over time.“