GAZIANTEP – Textile recycling start-up RE&UP has secured a €70 million ($75.89m) loan from French development finance institution Proparco to upscale its next-gen recycled fibre production.
The investment will see RE&UP, a textile arm of Turkish giant Sanko Group, construct a new textile-to-textile recycling facility in Gaziantep, Turkey, with the project aiming to significantly reduce both carbon and water footprints in textile recycling while maintaining the quality of virgin fibres.
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