In a significant step towards sustainable economic growth and environmental responsibility, the Kumtor Gold Company has unveiled a state-of-the-art tire recycling plant in Tokmak, Chui region. This promising endeavor, the "Turning Waste into Money" project, aims to harness cutting-edge German technology to retread automobile tires of all sizes. The project, which has the potential to reduce tire replacement costs and bolster the Kumtor Gold Company's revenue streams, is also expected to mitigate the adverse environmental impacts of discarded plastic products.
The Kumtor Gold Company, a major player in the Kyrgyz mining industry, welcomed Akylbek Japarov, Head of the Cabinet of Ministers of Kyrgyzstan, for an official visit to the tire recycling plant. The visit, marked by optimism and forward-looking initiatives, signals a positive stride toward sustainable industrial practices.
Currently operating in a testing phase, the plant is gearing up for full-scale production, set to commence in late 2023 and early 2024. The venture has already generated employment opportunities for 180 individuals and boasts an impressive processing capacity of over 2 tons of old tires per hour. With a total project cost of $19.2 mn and an internal rate of return of 33%, this initiative holds great promise for both the economy and the environment.
In his remarks during the visit, Akylbek Japarov emphasized the regional and international impact of this project, especially highlighting the potential for cross-border trade and collaboration. Japarov stressed that the products manufactured here will not only serve the Kyrgyz market but will also find their way to Kazakhstan, Uzbekistan, and Tajikistan.
One of the core objectives of the tire recycling plant is to transform discarded tires into valuable resources. Through a sophisticated recycling process, old tires are repurposed into new materials, including plastics, textiles, and pressed materials. As per the project's feasibility study, the anticipated income tax revenue for the next five years (2026-2030) is projected to average 60 mn soms ($676,361). This substantial contribution to the national coffers reflects the economic viability and sustainability of this venture.
Furthermore, the plant's eco-friendly practices align with global efforts to reduce waste and minimize the carbon footprint. By recycling tires and converting them into reusable materials, Kyrgyzstan is taking a significant step towards a more circular economy.
The "Turning Waste into Money" project is a testament to Kumtor Gold Company's commitment to sustainable development, job creation, and responsible resource management. As it gears up for full-scale operations, the tire recycling plant in Tokmak stands poised to make a positive impact on both the economy and the environment, setting a notable example for the region and beyond.
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