Molycop's Cootamundra recycling facility has received funding to extend its work in the Circular Economy space.
Our Molycop 360 recycling facility based in Cootamundra, NSW, Australia, was one of eight projects identified under the Federal Government’s Recycling Modernisation Fund (RMF) in partnership with the NSW Government’s Remanufacture NSW program.
The funding will go towards the upgrade of our Cootamundra facility to create value-added products, including the recovery of steel to create 'Green Steel', as well as collecting old tyres and rapid high-density polyethylene (HDPE) plastics from regional and remote NSW to process into recycled substitutes for the local steel, plastics and asphalt industries.
Mr Michael McCormack MP, said Molycop was doing great work in the recycling industry:
The Cootamundra facility will have the capacity to do even more in the circular economy space with this 50-50 co-investment from the Federal and New South Wales governments.
The improvements to the Cootamundra facility will take 8,150 tonnes of waste out of landfill once fully operational. This is about helping our environment as well growing our recycling industry and creating jobs.
Member for Cootamundra Steph Cooke said more than $4.8 million in co-funding has been announced, with more than $800,000 being delivered in Cootamundra:
This is fantastic news for the community in Cootamundra because this co-funding is being delivered to projects that are helping to find solutions for recycling waste.
These grants are also directly supporting jobs in our region. New infrastructure means new jobs, and these innovative projects will support more than 60 new full-time jobs during the construction phase, and more than 35 new ongoing roles.
The $280 million Recycling Modernisation Fund investment, together with other measures to support Australia’s National Waste Policy Action Plan, will create about 10,000 new jobs all around Australia over the next 10 years.
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