ALBURY has been chosen as the home for a $30 million plastics recycling factory which will generate 30 jobs locally.
The venture will be jointly developed by the Pact Group, Asahi Beverages and Cleanaway Waste Management with the facility to process about 28,000 tonnes of plastic bottles and other recyclables annually.
Recycled material entering the "plastic pelletising factory" will then be used for production of packaging for food and beverages.
The Pact Group and Asahi Beverages will purchase the majority of the recycled material from the factory to use in their products.
The factory is expected to be up and running by December next year.
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The factory has also secured a NSW Government grant.
Victorian Government incentives have previously helped attract Seeley International, XLam timber laminate manufacturer and SCT Logistics south of the border.
The plastics recycling factory will be Pact Group's first foray into Albury with Asahi Beverages having a presence in the city since 2012 when it bought the Mountain H2O water bottling plant.
"I am thrilled with this arrangement and the opportunity to work with Cleanaway and Asahi in making a meaningful step in improving the plastics value chain," Pact chief executive Sanjay Dayal said.
It will also provide technical and packaging expertise.
Asahi Beverage's Group chief executive Robert Iervasi said: "This venture will allow us to utilise Australian sourced recycled plastic resins to assist in meeting our sustainability commitment to transition our portfolioto recycled plastics.
"I am excited by the opportunity to participate in a market winning strategic alliance that closes the loop of the circular economy and contributes to a sustainable plastics supply chain by combining our strategic capabilities."
Cleanaway has previously attempted to establish a compost plant at Gerogery and Howlong.
Cleanaway chief executive Vik Bansal said: "The partnership will create valuable raw materials from the recyclables we collect and sort to help make a sustainable future possible."