Paprec ready to invest 35 million euros in Elven, in Morbihan

Paprec Group a specialist in waste treatment, is planning a major investment in the Gohélis business park, located in the town of Elven (Morbihan), near Vannes.

The project should involve a financial amount of between 30 and 35 million euros for the construction of a new processing center for recyclable plastics. This factory will replace the one already existing in Vannes which cannot be extended. Paprec is counting, for its new complex, on the annual treatment of 40,000 tonnes of plastic waste from the collection of household waste.

50 jobs

In total, about fifty jobs should be created. If the schedule is respected and the administrative authorizations obtained, the construction work will begin in 2023 for a start of activity by 2024.

Paprec Group is committed to this vast investment, indicates the daily Le Télégramme, knowing that demand from the Vannes intermunicipal community and its proximity remains strong. Due to insufficient local capacity, some of Paprec’s used plastics are also shipped to Le Rheu, near Rennes, to its vast site which also recycles wood and paper.

Waste facing valves

Vannes and its neighboring towns must process very large volumes, particularly during the summer period. The Paprec group intends to perpetuate this captive market. It achieves an annual turnover of 2 billion euros and has 280 waste collection and treatment sites, thanks to a team of 12,500 employees. Paprec is planning a strong increase in its turnover, which should reach 5 billion euros in 10 years.

Hence two recent equity fundraisings, one of 150 million euros carried out in January 2022 with For Talents Transmission; the second, for an identical amount, carried out a few weeks ago with Crédit Agricole and Vauban Infrastructures Partners .

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