Caban signs MOU with PlastOil to deliver plastic to diesel technology to South Africa

Caban signs MOU with PlastOil to deliver plastic to diesel technology to South Africa

PlastOil MOUPlastic is a major pollutant all around the world. The developing world in particular battles with an excess of waste plastics that find their way into water ways and ultimately the ocean. That we are facing a crisis with the continuously increasing amount of waste plastic is clear. Recycling of plastics has in recent years gained popularity as more ways to profit from waste come to the fore – especially in the creation of fuels from waste.

As part of our commitment to supporting innovative technological solutions to current issues, Caban Investments Ltd, represented by Dave Romero, signed a memorandum of understanding with PlastOil AG from the Netherlands, represented by Arno de Jong, and PlastOil South Africa (Pty) Ltd, represented by Justin Damster, at the Department of Design, a three week-long event that supports sustainability and collaboration which is an initiative of the Government of the Netherlands as part of their contribution to World Design Capital Cape Town 2014. Petrogas (The Netherlands) and DiesOil (Switzerland) jointly cooperate in the worldwide development of the PlastOil plants.

The MOU, witnessed by the Dutch Minister for Foreign Trade and Development Cooperation Ms. Lilianne Ploumen and Executive Deputy Mayor of Cape Town, Ian Nielson, pledges Caban’s support of projects for improving the handling of end-of-life plastic waste with particular focus on support for companies from The Netherlands and South Africa in working together in the realisation of reduction of the dumping of end-of-life plastics by lobbying on their behalf with the City of Cape Town and Western Cape Provincial Government.

Further, Caban will assist PlastOil South Africa (Pty) Ltd in setting up operations across South Africa, by providing them with corporate services and will raise capital of behalf of PlastOil South Africa (Pty) Ltd. You can download the signed MOU here.

Caban Investments Ltd has a 20% stake in PlastOil South Africa (Pty) Ltd.

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