A $190 million Recycling Modernisation Fund will be launched with the aim of generating $600 million of recycling investment and underpinning a billiondollar transformation of Australia’s waste and recycling capacity.
The fund is a centrepiece of the federal government’s plan to build a local recycling industry, following a phased ban on exports of used plastics, paper, glass and tyres.
The modernisation fund will support investment in new infrastructure to sort, process and remanufacture materials such as mixed plastic, paper, tyres and glass, with Commonwealth funding contingent on co-funding from industry, states and territories.
‘‘As we cease shipping our waste overseas, the waste and recycling transformation will reshape our domestic waste industry, driving job creation and putting valuable materials back into the economy,’’ Environment Minister Sussan Ley said.
... the unparalleled expansion of Australia’s recycling capacity followed close consultation with industry. ______________
Ash here.
This is the Commonwealth's contribution, a step, and far from the complete story.
Major, complex recycling systems are needed to meet declared future standards recycling 80% of waste.
So, federal and state financial support for facility construction, easy permits for a noxious industrial use, then tightly written (read expensive) local government contracts to meet the new standards. Wait for the howls of protest when council rates go up hard.
This largesse falls to a handful of businesses in Australia with the capital and skill to meet these standards. CWY is one and a screaming buy.
Ash
CWY Price at posting:
$2.16 Sentiment: Buy Disclosure: Held
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