IFC  announced a loan of up to US$20 million to Novatex Limited (Novatex), one of Pakistan's leading producers and exporters of plastic packaging materials, to finance the import of essential raw materials and equipment to support the country's packaging industry.     Packaging materials are a critical input for Pakistan's export-oriented manufacturing sectors, including food processing, pharmaceuticals, and consumer goods.    Novatex operates a large-scale PET recycling plants,  and is expanding its recycled PET (rPET) capacity, supporting Pakistan's gradual transition toward a circular economy in the packaging sector.     Established in 1991, Novatex is the market leader across polyethylene terephthalate (PET) resins, recycled PET (rPET), PET preforms, and biaxially-oriented PET (BoPET) films, commanding over 65  percent of the domestic PET resin market and over 50 percent in each of its other segments.    It is also Pakistan's largest non-textile exporter, supplying PET products to more than 40 countries, with an export base anchored by multinational clients. As part of its commitment to circularity, the Company has established 2  PET recycling plants capable of recycling two  billion bottles annually. (ICE ISLAMABAD)

Fonte notizia: ifc