Construction of Australia’s biggest polyethylene terephthalate (PET) recycling plant is gaining momentum, with the Federal Government providing a $16.5 million investment into the plant.
The investment will be made through a Clean Energy Finance Corporation investment. This will also serve as the first investment under the Federal Government’s Australian Recycling Investment Fund.
Once operational the facility will recycle the equivalent of one billion plastic bottle each year, turning the material into more than 20,000 tonnes of new PET bottles and packaging.
Construction on the project began in February, creating 300 jobs and providing a further 35 roles for the facilities on-going operation.
Federal Minister for Finance Simon Birmingham said the project will help to support Australia’s waste industry.
“Improving Australia’s recycling capacity is good for the environment and Australia’s economic growth. As we recover from the COVID-19 pandemic, boosting jobs within the sector will help secure Australia’s future and this project is assisting that,” he said.
Minister for Energy and Emissions Reduction Angus Taylor sad the facility will ensure that resources are not lost to landfill.
“Better waste management is important to Australia’s future low emissions economy and has the potential to reduce emissions by cutting landfill volumes,” Taylor said.