A new Investment Facilitation Service will seek to attract investment opportunities in Victoria’s waste and resource recovery sector, from local, national and international investors.
Minister for Environment, Climate Change and Water Lisa Neville today launched the Victorian Waste and Resource Recovery Infrastructure Investment Prospectus to support investment and create new jobs in the waste and resource recovery sector through collaborations with other government agencies including Invest Victoria, EPA, and Regional Development Victoria.
The Prospectus is part of the Statewide Waste and Resource Recovery Infrastructure Plan which aims to help industry and local government manage a growing waste stream by maximising the recovery of valuable resources and creating new jobs in new markets.
Victoria currently generates 11 million tonnes of waste each year. With a growing population, improvements in waste management practices will need to keep pace with the 21 million tonnes of waste expected to be generated each year by 2044.
The state infrastructure plan identifies opportunities for up to $5 billion in infrastructure investment by 2044, including up to $167 million in annual investment towards advanced technologies, innovation in products, infrastructure, and expertise to improve resource recovery in Victoria.
Another element of the state infrastructure plan is the Draft Victorian Market Development Strategy which has now been released for public consultation.
The Strategy will support the resource recovery and manufacturing sectors to grow and create jobs, by maximising the value of recovered materials and developing quality products for end markets.
These consultations will seek feedback on the information collected during consultations with stakeholders during 2013-14.
Quotes attributable to Minister for Environment, Climate Change and Water Lisa Neville
“We have listened to feedback from investors and the industry that we need a service like this which connects local and state government, and industry to meet the needs of a growing population and better manage our state’s waste and resource recovery.”
“Victoria is an attractive place to invest in the waste and resource recovery sector with a positive outlook for creating more jobs and investment.”
“The Prospectus will encourage investment in infrastructure to increase the state’s capacity to recover material from waste. The market development initiatives will support this by stimulating markets for products made from recovered materials.”