Norfund has invested USD 4 million in Vietnam’s Circular Plastics Company (CPC) to expand production at its recycling plant near Ho Chi Minh City. The facility processes used PET plastic into recycled materials for packaging, with an annual capacity of 31,000 metric tons of recycled PET flakes and 14,000 metric tons of food-grade recycled PET pellets.
Norway’s Minister of International Development, Åsmund Aukrust, highlighted that the investment not only supports job creation but also helps address plastic waste. He emphasized that scaling industrial PET food-grade recycling in Vietnam contributes both to employment and to reducing plastic pollution in the region.
Vegard Benterud, Investment Director at Norfund, noted that CPC has delivered its recycling facilities on time and within budget, and Norfund is eager to support the company’s continued expansion in Vietnam.
Norfund, owned by the Norwegian government, invests in businesses across developing countries. Its committed portfolio totals USD 3.8 billion, covering regions in Sub-Saharan Africa, South and Southeast Asia, and Latin America, with a focus on promoting sustainable growth, job creation, and environmental impact.
