The delay reflects ongoing efforts to secure a small remaining share of project funding rather than a change in strategy.

Brussels framed the initiative as both an environmental and industrial response, arguing that more efficient plastics recycling can strengthen the Single Market, improve economic security and reduce dependence on imported raw materials.

Under the partnership, Prysmian will collect plastic scrap from its manufacturing operations as well as from decommissioned cables returned by large customers.

The planned facility in Clarksville would require about $6.6 billion in capital expenditures, with total investment reaching $7.4 billion including working capital and financing costs.

The deal, executed through Saica’s environmental services arm Saica Natur, transfers a portfolio of facilities and contracts focused on the collection and processing of paper, corrugated board and other non-hazardous commercial and industrial waste.

The project, known as Circular Recycling Innovation for Sustainable Packaging, is coordinated by the Danish Technological Institute and brings together packaging producers, food manufacturers and waste management firms.