Billionaire recycling investment to create 5,000 manufacturing jobs

Australia’s richest man Anthony Pratt has announced he will invest $2 billion into his recycling company Visy Australia – creating thousands of jobs.

The billionaire is planning a major expansion for the manufacturer which will include 5,000 new jobs over the next 10 years.

“The $2 billion investment pledge I’m announcing will be spent expanding Visy’s manufacturing capabilities throughout Australia including new investments in clean energy,” he reportedly said.

“We are one of the most environmentally committed companies and so much of the $2 billion will be spent on technologies that not only create those high-paying manufacturing jobs, but also enhance sustainability and energy security.”

Pratt, who is worth $12.59 billion, made the announcement on Wednesday during the unveiling of the Visy-run Tumut pulp and paper mill in New South Wales, which was attended by Prime Minister Malcolm Turnbull.

“At the end of the 10-year investment program, Visy’s total investment in Australia will be $8 billion in today’s terms, and we will have created a total of almost 30,000 direct and indirect jobs.”