Red Plast Sarl has gained tax exemptions for a solid waste recycling project in Douala, effective for five to ten years. The investment will create 166 jobs in addition to the existing 25. The company focuses on recycling plastic waste into finished products, contributing to sustainable development.
Red Plast Sarl, a Cameroonian firm, has obtained significant tax and customs exemptions for its solid waste recycling project located in Douala. These exemptions are granted under Cameroon’s 2013 law that fosters private investment and will be effective for a duration of five to ten years. The agreement was formalized on February 17 in Yaoundé, involving the company’s leadership and representatives from the Small and Medium Enterprises Promotion Agency (APME).
The project, which is an investment exceeding CFA1.3 billion, is expected to generate 166 new jobs, complementing the existing 25 jobs held by Red Plast employees. Based in Douala, the company’s operations focus on the collection, recycling, and repurposing of plastic waste. They convert these materials into usable goods, including paving stones for flooring applications.
Through this new initiative, Red Plast Sarl aims to enhance its production capacity and strengthen its position in the recycling industry. The company’s commitment aligns with its ongoing efforts to mitigate plastic waste in Cameroon, thus contributing positively to the environment. This project reflects a strategic move towards sustainable development and increased economic activity in the region.
In summary, Red Plast Sarl has successfully secured tax exemptions for its new recycling facility, which promises job creation and increased production capabilities. The investment not only aims to bolster the company’s operations but also plays a significant role in addressing plastic waste issues in Cameroon. The formal agreement indicates strong governmental support for private investment in environmental initiatives, highlighting a positive step towards sustainable development in the region.
Original Source: www.businessincameroon.com
