European Bank for Reconstruction and Development acquires 25% stake in Green Group

The European Bank for Reconstruction and Development (EBRD) became a co-owner of the Green Group in late April by acquiring a 25% stake in that group, thus confirming the Green Group's leading position in the recycling industry in Southeast Europe. The European Bank for Reconstruction and Development (EBRD) recognized the success and dedication of a team of professionals who have been setting standards in the recycling industry in this region since 2002, reads a statement issued by Novi Sad-based Greentech, a member of the Green Group.

As it was announced, the Green Group is engaged in the recycling of plastics, electric and electronic waste and batteries in line with the highest EU standards. Its members are recycling plants in Romania, Serbia, Macedonia and Ukraine: Greentech, Greenfiber, Greenweee and Greenlamp.

After investing in new business premises in downtown Novi Sad, Greentech Serbia starts a new investment in a wastewater treatment plant in Mladenovo. This investment is worth RSD 20 million. The wastewater treatment plant will enable further improvement of the technological process of recycling and boost the processing capacity.

The plan is to put the wastewater treatment plant into operation within the next 120 days and immediately afterwards start the third phase of Greentech's investment cycle. The total value of planned investments in Serbia in 2012 amounts to EUR 2 million.