This is a five (5) years Plan aimed at repositioning THE INITIATES PLC as a leading player in Waste Management and particularly in the Hazardous subsector. It entails:
- strengthening of our existing business line,
- development of three (3) new business lines within the Waste Management Industry;
- developing of three (3) new operational locations outside our current Base (Port Harcourt); and
Putting The Initiates Plc. (TIP) in the international radar of the waste management industry
In line with this Plan, TIP has been listed in the Nigerian Stock Exchange and is currently undertaking series of internal/external strategic actions aimed at further enhancing its growth and entrenching its relevance in the Industry. These activities are expected to be financed internally, and with long-term loans or equity, and these actions include e:
- Strengthening of the existing Thermal Desorption Business line (including physical uplift of the Port Harcourt Base) The Listing in the Nigerian Stock Exchange is to significantly diversified ownership platform, enhance public profile of the company, and provide increased options for meeting the future financing needs of the company as well as provide identified strategic business opportunities best optimized as a public company;
- Development of E-Waste Processing Facilities (Port Harcourt & Lagos) with a view to capturing the emerging business window in this exploding subsector. These Facilities are meant to receive and process CRT, PCB, Wires, Bulbs and Fluorescent tubes, ODS Reclamation, and LCD. This facility when completed shall produce copper and gold. In this respect, the company has commenced development of Port Harcourt Facility;
- Development of Hazardous Waste Incineration Facilities (Port Harcourt, Warri & Uyo) as a private sector response to the approval of the National Healthcare Waste Management Plan by Nigerian Government. These facilities shall handle all forms of hazardous waste but will be particularly, targeting Healthcare Waste (which accounts for over 45% of Nigerian Hazardous waste burden). Work on Port Harcourt Facility has commenced; and
- Acquisition of equipment for ancillary services in Industrial Cleaning and Decontamination subsector which has a huge market value as component of facility maintenance. These include machines for Sewer/drainage cleaning, desludging, and Heat Exchanger cleaning.
- Development of Municipal Solid Waste Infrastructure (Enugu, Calabar, Uyo & Delta): with a view of Partnering with the public sector to develop solid waste infrastructure. World Bank projection states that global waste generation is expected to rise to 2.2 billion metric tonnes per year by 2025 amounting to a foot print of 2.0 kg of waste per person per day. This is already a serious concern to developing countries where severity of environmental and public health impacts caused by unsustainable and ineffective waste management is more pronounced.