Puerto Rico is likely to see three new tyre recycling projects in the towns of Guánica, Toa Baja and Juncos, with an investment of approximately $ 20 million. The projects have been outlined in a MOU with the government of Puerto Rico, Chinese firm Dura Shred and local company Nuevo Mundo.
Economic and Trade Development Secretary Manuel A. Laboy Rivera said that "efforts to create new businesses and jobs, in partnership with Chinese entrepreneurs and Puerto Rican entrepreneurs, are bearing fruit. We signed an agreement with the Chinese manufacturer of recycling equipment Dura Shred and the Puerto Rican company established in Juncos, Grupo Nuevo Mundo, to develop several recycling projects that will mainly benefit the work force of Guánica, Toa Baja, Juncos and adjacent towns.
Laboy Rivera stressed that the initiative is part of the outcome of meetings between Chinese entrepreneurs and businessmen and local officials, following the recently held China-Puerto Rico Investment Forum.