FUNDING FOR COOTAMUNDRA RECYCLING PLANT
A Cootamundra recycling facility is at the forefront of the regional recycling revolution with support from the Federal and New South Wales State governments.
Molycop Cootamundra 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 its 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 McCormack 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,” Mr McCormack said.
“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,” Ms Cooke said.
“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.
More information on the funding programs can be found at https://www.awe.gov.au/environment/protection/waste/how-we-manage-waste/recycling-modernisation-fund and https://www.environment.nsw.gov.au/funding-and-support/nsw-environmental-trust/grants-available/remote-and-regional-remanufacture-nsw
Fast facts: Molycop Cootamundra project
Federal Government funding: $420,450
NSW State Government funding: $420,450
Total government funding: $840,900
Funding from industry: $2,215,257
Total project cost: $3,056,157