Beverage sector to benefit from Visy’s $700M investment

Visy is committing to a massive expansion of its Queensland recycling and remanufacturing activities following an investment of $700 million.

The announcement is part of Visy Executive Chairman Anthony Pratt’s 2021 $2 billion investment pledge to Australian recycling and clean energy infrastructure over the next decade, which is expected to create thousands of new manufacturing jobs.

The plan will see Visy invest $500 million towards a new glass food and beverage container recycling and manufacturing facility in Yatala, a new $150 million corrugated box factory at Hemmant, and a $48 million investment in major upgrades to the company’s Material Recovery Facility (MRF) on Gibson Island.

Pratt said the project is Visy’s largest investment in the state, with a lot more to go towards the rest of the country in the next decade.

“This is the largest investment Visy has ever made in Queensland and is part of my pledge to invest $2 billion in Australia over the decade,” he said.

Pratt said the investment shows the Government’s success in growing Queensland’s economy.

“I commend Premier Palaszczuk and her Government for its leadership in support of Australian manufacturing,” he said.

“This $700 million investment confirms the Government’s economic plan to grow the State’s economy and create advanced manufacturing jobs is working.”

The projects will create over 900 jobs in construction and will support 300 green collar, remanufacturing jobs once operational.

Pratt said the state-of-the-art factory will help with increasing Visy’s recycled content in glass packing to 70 per cent, reduce landfill and reduce the use of natural resources by using the most modern energy efficient manufacturing technology available.

The facility is expected to produce around one billion glass containers a year and will support Queensland’s world class iconic beverage manufacturers.

In other news, Visy details how it adapts to supply chain challenges.