A new plant to dispose of and recycle old cell phones and other forms of electronic waste is under development in Italy. Garb Oil & Power is setting up a joint venture in Rome in order to build and then operate a facility for the safe and proper disposal of used cell phones and other forms of electronic equipment in the province of Viterbo.
The new facility is expected to have the capacity to be able to handle the processing of more than 250,000 tons of electrical waste, and also be capable of producing materials such as plastics, copper, aluminum and alloys. Once it is fully up and running, it is anticipated that the facility will be able to generate annual revenue of no less than €11 million.
Garb Oil & Power is set to own 51 percent of the facility, with the remaining 49 percent expected to be owned by a company that is already involved in the disposal and recycling of electronic waste. Garb Oil & Power will then construct, own and run the plant itself. An investment of almost $25 million is required of the other partner, which includes both the building of the facility and the cost of the land. The development of the electronic waste facility is being financed by a local bank, the funding to be guaranteed by an insurance bond.