Recycling company Visy is set to invest $700 million in Queensland recycling and remanufacturing.
The investment is shared between a $500 million glass food and beverage container recycling and manufacturing facility in Yatala, a new $150 million corrugated box factory at Hemmant and $48 million in upgrades to its Material Recovery Facility (MRF) on Gibson Island.
Visy will also relocate its current glass remanufacturing operations from South Brisbane to Yatala in 2025 and allow the use of the existing facility along the Brisbane River for the 2032 Olympic Games.
“This is the largest investment Visy has ever made in Queensland,” said Pratt. “This $700 million investment confirms the government’s economic plan to grow the state’s economy and create advanced manufacturing jobs is working.”
Last year, executive chairman Anthony Pratt pledged to invest $2 billion over a decade in Australian recycling and clean-energy infrastructure.
He described recycling as an “important weapon” against climate change and congratulated the Queensland Government for its support of practical environmental measures.
The container recycling facility will produce about 1 billion containers a year while the corrugated box factory will support Queensland’s agricultural sector and growers across the state. The upgrades to its MRF at Gibson Island will see an additional 30,000kt of material redirected from landfills.
