Visy announces AU$ 2 billion expansion of paper and board sites

Australia – Australian entrepreneur Anthony Pratt will invest AU$ 2 billion in his cardboard and paper manufacturing and recycling business over the course of the next ten years. This announcement came yesterday at the opening of Visy’s pulp and paper mill in Tumut, which recently received a AU$ 100 million upgrade.

Pratt’s plan is expected to create more than 5000 new jobs in the Melbourne area over the next decade and cements paper giant’s mission to boost employment across Australia.

The funds will be spent on ‘technologies that not only create high-paying manufacturing jobs, but also enhance sustainability and energy security’, the businessman said. He told Prime Minister Malcolm Turnbull that the expansion of Visy will have created as much as 30 000 direct and indirect jobs once it is completed in ten years time.

The blueprint he presented at the opening revealed that there will be new or upgraded facilities in every Australian state. ‘We are doubling down,’ commented Pratt, who counts as one of the richest men in the country.