Minister for Science and Research, Senator Chris Evans, has announced that the federal government will invest $168 million to construct a nuclear medicine manufacturing plant.
This world’s first synroc plant will generate 250 jobs, and help half a million Australians and millions of people around the world, reports Nine News.
According to Evans, the nuclear medicine manufacturing plant will secure Australia's ability to produce Molybdenum-99 (Mo-99) which is used for diagnosis of heart disease, cancers, and kidney and gastrointestinal tract disorders.
It will be delivered by scientists at the Australian Nuclear Science and Technology Organisation (ANSTO) at Lucas Heights using the existing low-enriched uranium reactor.
Evans said that the synroc plant will offer a safe and economical way of managing by-products from nuclear medicine manufacture.
The synroc waste treatment plant will reduce the volume of nuclear bi-products by 99 per cent compared to other methods.
With this manufacturing unit, Australia will earn a return by meeting half the world's needs for Mo-99.
Evans stated that it was important for the 550,000 people who require a nuclear medicine procedure in Australia each year, as well as the 45 million people across the globe who will be able to access Australian-produced nuclear medicine.