Australian-American paper and packaging company Visy has announced a A$700m ($499.52m) investment to expand its recycling and re-manufacturing operations in Queensland, Australia.
The investment is part of the company’s commitment to invest A$2bn in improving Australia’s recycling and clean energy infrastructure.
As part of the plan, Visy will develop a A$500m glass container manufacturing plant and recycling facility in Yatala, Queensland.
The advanced facility will have an annual production capacity of around one billion glass containers, primarily serving beverage manufacturers in the state.
Visy said the Yatala plant will use the most energy-efficient manufacturing technology available and will increase the amount of recycled content in the company’s glass packaging to 70%.
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It will create more than 900 jobs during construction and support 300 green-collar manufacturing jobs once operational.
Visy expects to relocate its existing glass re-manufacturing operations from South Brisbane to Yatala by 2025.
In addition to the Yatala facility, the company will develop a corrugated box factory at Hemmant with an investment of A$150m.
Visy also plans to invest A$48m to upgrade its material recovery facility on Gibson Island.
The corrugated box factory at Hemmant will serve farmers and growers across Queensland while the upgraded recovery facility at Gibson Island will help divert 30 million tonnes of material from landfills.
Visy executive chairman Anthony Pratt said: “This is the largest investment Visy has ever made in Queensland and is part of my pledge to invest $2bn in Australia over the decade.
“This $700m investment confirms the government’s economic plan to grow the state’s economy and create advanced manufacturing jobs is working.”
Last month, the Government of Australia announced a A$60m funding stream to help process ‘problematic’ plastic crisp packets and bread bags by developing ‘advanced’ plastic recycling technology.
The investment is part of the government’s Recycling Modernisation Fund, which aims to expand the country’s sorting, processing and remanufacturing of recycled materials.