Visy has announced a $700 million investment in Queensland recycling and remanufacturing as part of the $2 billion investment pledge to Australia that Executive Chairman Anthony Pratt made last year.
Visy said it would invest more than $700 million in a major expansion of its recycling and remanufacturing operations in Queensland.
The company plans to invest $500 million in a new glass food and beverage container recycling and manufacturing facility in Yatala, $150 million in a new corrugated box factory in Hemmant, and $48 million in major modifications to its 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.”
As part of the project, Visy will relocate its current glass remanufacturing operations from South Brisbane to Yatala in 2025, paving the way for the International Broadcasting Centre for the 2032 Olympic Games to be built on the site along the Brisbane River.
Once operational, the projects will support around 900 construction employment and 300 green collar remanufacturing jobs.
According to Pratt, the state-of-the-art plant will help Visy achieve a 70 percent recycled content in its glass packaging, prevent landfill, and conserve natural resources by employing the most modern energy-efficient production technologies possible.
“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 concluded.
Queensland Deputy Premier and Minister Assisting the Premier on Olympics Infrastructure Steven Miles said Visy’s investment would “secure jobs at three separate locations across the south-east”.
“The Palaszczuk Government has secured the preferred site for the International Broadcast Centre, which will broadcast images from Brisbane 2032 to the world,” the Deputy Premier said.
“Visy’s $700 million investment in Queensland will see the company build a new glass manufacturing facility at Stapylton to replace the facility at West End.
“Thanks to a $16 million investment by the Palaszczuk Government, committed to at the last election, Visy will invest in major upgrades to the Material Recovery Facility on Gibson Island.”
“They will also build a new cardboard box factory at Hemmant.”
