A Memorandum of Understanding (MoU) has been signed between Lafarge Egypt and Orascom Telecom Media and Technology Holding S.A.E (OTMT) to develop a waste management municipal and agricultural waste facility, according to a Lafarge press release Monday.
The MoU was signed by Chief Executive Officer of Lafarge Egypt Hussein Mansi and Deputy CEO and Chief Operating Officer, OTMT Tamer El-Mahdy, in the presence of Minister of Environmental Affairs Khaled Fahmy during the Economic Summit in Sharm El-Sheikh,.
The MoU will contribute to creating new jobs, reducing the use of fossil fuels to generate energy, in addition to achieving sustainable development and a circular economy through the reduction of garbage burning, and waste dumping.
Chairman and CEO of OTMT Naguib Sawiris said this project is a new OTMT investment, and it is very important to the company.
Meanwhile, CEO of Lafarge Egypt Hussein Mansi said the project comes in light of the company’s “Building Egypt 2030” campaign to solve the waste problems in Egypt.
Lafarge Egypt and its affiliated company Ecocem Industrial Ecology Egypt have implemented various projects over the past three years. They aim to boost the use of alternative fuels and attain a 25% average fuel substitution rate of by the year’s end.