(Alliance News) - RES Spa announced Thursday that it has obtained a EUR8 million loan from Banco BPM Spa to finance the construction of a plastics recycling plant.

The five-year floating-rate line of credit with eight months of pre-amortization is backed by an 80% SACE Green guarantee and finances the construction in Pettoranello, in the province of Isernia, of Phase I of the project relating to the creation of an integrated center for the thrust sorting and recycling of plastics aimed at the production of secondary raw materials and the recovery of process waste by transformation into pyrolytic oil.

Specifically, the credit line finances the construction of a plastics push sorting plant with a treatment capacity of 40,000 tons per year and a PET and HDPE washing and granulation plant with a capacity of about 10.400 tons per year, part of the larger project to build the first integrated center for the recovery and processing of plastics from both mechanical and chemical recycling, through pyrolysis, to be used as virgin raw materials in the plastics, chemical and petrochemical industries, achieving the true added value of the circular economy, namely the zeroing of all waste.

"This operation allows us to consolidate the development of the integrated plastics recovery center at our Pettoranello del Molise site, in line with our business plan," said Antonio Lucio Valerio, CEO of RES. "Positioning RES among the top companies at the European level for innovation in the recycling sector. Thanks are certainly due to Banco BPM, which has accompanied us from the beginning on this path of further evolution of our industrial project."

RES stock is unchanged at EUR4.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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