Garb will build, own and operate E-Waste recycling facility that will have 25,000 metric tons input and produce output in copper, aluminum, alloys and plastic.
The JV will be 51% owned by Garb and 49% by a local group already present in the waste recycling business locally.
Once operational the plant will provide estimated revenues in excess of EUR11m ($15.4m) and EBITA in excess of EUR6m ($8.4m) per year of operation.
All raw materials will be sold to local entities for further processing, and the facility will be locally funded and initial funds are available to start the project.
The estimated cost of the project including land, building and plant is expected to be about $25m and is scheduled to be completed by September 2012.
Funding for the E-Waste Plant will come through the engagement of a local bank and will be guaranteed by an insurance bond.
