Nigerian Breweries Plc has entered a strategic partnership to establish a food-grade recycled polyethylene terephthalate (rPET) production facility in Ogun State, in a bid to promote sustainable packaging and strengthen the nation’s recycling industry.
The company disclosed in a notice to the Nigerian Exchange Limited (NGX) that its involvement will be limited to a 29 per cent equity stake, with no role in controlling or managing the facility.
The project will be executed through Indorama Ventures Recycling Solutions Limited, a special purpose vehicle created to develop, own, and operate the recycling plant. Global collaborators include Indorama Ventures Public Company Limited as the major partner and Genesis Energy Group as a minority partner.
According to a statement signed by the company’s secretary, Uaboi Agbebaku, “NB’s participation in the partnership will be limited to that of a minority investor with 29 per cent equity interest. NB will play no role in the control or management of the business.”
The collaboration aligns with Nigerian Breweries’ sustainability goals and aims to support the development of the local recycling sector, while securing a reliable supply of recycled PET for its operations in line with the National Policy on Plastic Waste Management.
The company noted that the transaction is subject to regulatory approvals, technical validation, and operational implementation.
