Visy announces $700 million investment in Queensland recycling and re-manufacturing as part of Anthony Pratt’s $2 billion investment pledge to Australia
Visy said today it would invest $700 million on a massive expansion of its Queensland recycling and remanufacturing operations.
Today’s announcement is part of Visy Executive Chairman Anthony Pratt’s 2021 pledge to invest $2 billion in Australian recycling and clean energy infrastructure over the ensuing decade, creating thousands of new green collar, well-paying Australian manufacturing jobs.
Under the plan, the company will invest $500 million to build a new glass food and beverage container recycling and manufacturing facility in Yatala; a new $150 million corrugated box factory at Hemmant; and invest $48 million in major upgrades to the company’s Material Recovery Facility (MRF) on Gibson Island.
“This is the largest investment Visy has ever made in Queensland,” said Pratt, “and is part of my pledge to invest $2 billion in Australia over the decade.
“I commend Premier Palaszczuk and her Government for its leadership in support of Australian manufacturing. This $700 million investment confirms the Government’s economic plan to grow the State’s economy and create advanced manufacturing jobs is working. Under Premier Palaszczuk’s leadership, Queensland has become a global powerhouse for manufacturing.”
Visy will relocate its current glass re-manufacturing operations from South Brisbane to Yatala, expected in 2025, paving the way for the site along the Brisbane River to be used as the International Broadcasting Centre for the 2032 Olympic Games.
The projects will create over 900 jobs in construction, and support 300 green collar, remanufacturing jobs once operational.
Pratt said the state of the art factory will help towards increasing the recycled content in Visy’s glass packaging to 70%, reduce landfill, and reduce the use of natural resources by using the most modern energy efficient manufacturing technology available.
The facility, which will produce about 1 billion glass containers a year, will support Queensland’s world class, iconic beverage manufacturers. The company’s new $150 million corrugated box factory at Hemmant will service Queensland’s thriving agricultural sector, supporting farmers and growers across Queensland.
Visy’s upgrade to its MRF at Gibson Island will see up to an additional 30,000kt of material diverted from landfill. Visy currently recycles over 250,000 tonnes of material from kerbside collections a year and is proud to service the majority of South East Queensland’s recycling needs.
Mr Pratt said it was important to recycle because as things decay in the landfill they emit methane gas, which is up to 84 times more harmful than CO2. “Recycling is an important weapon against climate change and the Queensland Government is to be congratulated for its support for practical environmental measures, like recycling, that all Queenslanders can participate in,” he said.