Waste tyre recycling company receives grant
Monday, 08 October, 2007
Waste tyre recycling company Reclaim Industries Ltd has announced that it has been awarded a government grant to the value of $567,500.
The Innovation and Investment Fund for South Australia (IIFSA) grant, jointly funded by the federal and South Australian fovernments, is designed to attract investment and sustainable job opportunities in South Australia.
The company will use the funds from the grant to expand its operations in South Australia by establishing a tyre recycling and re-processing facility in Adelaide. The tyre recycling facility claims to be the first of its kind in South Australia.
The state-of-the-art plant will recycle and granulate commercial truck tyres to produce a range of new rubber-derived products for applications in grouts and adhesives. At full capacity, the new facility will recycle about 6000 tyres per month and employ up to 30 people.
Total expenditure for the new facility is estimated at $1.135 million. Reclaim intends to match the grant funding to meet the total capital and to provide additional funds for operational requirements.
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