VIC Seeks Investors To Support Waste Management Plans

Melbourne, Victoria
The Victorian Government launches a new Investment Facilitation Service that aims to attract and guide investors to Victoria’s waste and resource recovery sector.

Full details of the new Investment Facilitation Service are in the Victorian Waste and Resource Recovery Infrastructure Investment Prospectus, which was launched by Minister for Environment, Climate Change and Water Lisa Neville on 9 October.

The prospectus is part of the Statewide Waste and Resource Recovery Infrastructure Plan (SWRRIP), which aims to help industry and local government manage Victoria’s increasing waste output over the next 30 years by maximising the recovery of resources and creating new jobs around the sector.

Minister Neville said: “We have listened to feedback from investors and the industry that we need a service like this which connects local and state government, and industry to meet the needs of a growing population and better manage our state’s waste and resource recovery.”

The document provides detailed information for potential investors and presents the opportunities for waste and resource recovery infrastructure in Victoria. It highlights the principle material streams, provides crucial data and projections, and offers insights into the local market.

The service can help potential investors in a number of ways, including coordinating relationships with government and facilitating introductions with interested parties across industry, government, regulators and the community.

By providing the prospectus, the Victorian Government is looking to support investment and job creation in the waste and resource recovery sector through collaborations with other government agencies, including Invest Victoria, EPA and Regional Development Victoria.

“The Prospectus will encourage investment in infrastructure to increase the state’s capacity to recover material from waste,” added Minister Neville. “The market development initiatives will support this by stimulating markets for products made from recovered materials.”

As the state’s population and economy continues to grow, the SWRRIP identifies opportunities for up to $5 billion in infrastructure investment by 2044, including up to $167 million a year towards advanced technologies, innovation in products, infrastructure and expertise to improve resource recovery in Victoria.

Another element of the SWRRIP is the Draft Victorian Market Development Strategy, which has now been released for public consultation. The strategy aims to support the resource recovery and manufacturing sectors to grow and create jobs, by maximising the value of recovered materials and developing quality products for end markets. The closing date for responses is 6 November.

The Investment Facilitation Service is accessible online, or by contacting the SV Investment Team by email at invest@sustainability.vic.gov.au or by  phone on +61 3 8626 8746.

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