Rumours proceed to swirl that Australia’s greatest plastics and chemical producer may shut down, placing 700 manufacturing jobs, provide chains and the nation’s recycling functionality in danger.
Qenos operates out of Sydney and Melbourne and has been hit with multimillion-dollar losses and elevated vitality prices over the previous couple of years.
The corporate produces plastic resin merchandise and is considered one of Australia’s greatest chemical producers.
Similar to numerous companies and households throughout the nation, Qenos has felt the warmth from hovering gasoline and vitality costs.
For years the corporate has voiced issues that Australian producers had been being hit with “big will increase in vitality prices”.
The Australian reported this month that the Chinese language proprietor of Qenos, China Nationwide Chemical, and property developer Logos had been within the midst of a deal to promote the producer’s websites in Port Botany and Altona.
Whereas the deal is but to be full, The Australian indicated that the economic websites had been on the centre of the deal relatively than Quenos’ working enterprise.
Together with lots of of producing jobs, provide chains and Australia’s capability to recycle plastic would even be in danger.
Qenos was considered one of two corporations within the nation that might produce the resin required to make advanced plastic merchandise, The Australian reported.
Recycling trade knowledgeable Helen Millicer advised the newspaper that the “lack of Qenos manufacturing vegetation in Sydney and Melbourne would make it nearly not possible to determine an end-to-end recycling trade for plastic” in Australia.
The Nationwide Plastics Plan 2021 units out a 70 per cent goal of plastic packaging to be recycled by subsequent 12 months.
2GB broadcaster Mark Levy advised his viewers on Thursday that the flow-on results from Qenos’ closure may wreck that plan.
“They will neglect about it if Qenos shuts,” Levy mentioned.
“In 2022, Qenos launched a feasibility research with Cleanaway to interrupt down 1000 tonnes a 12 months of packaging into its chemical parts then again to a resin for future use.
“(That) is identical weight as two Sydney Harbour Bridges, that’s numerous recycled plastic.
“That 100,000 tonnes of plastic will now find yourself in landfill.”
Levy mentioned due to Australia’s excessive gasoline and vitality costs our greatest plastic manufacture may shut down.
“However we’ve got to be trustworthy about this, it’s simply not the greenies which can be behind excessive gasoline costs, it is usually the gasoline corporations,” he mentioned.
“Proper now, Australia produces nearly six occasions the quantity of gasoline wanted to produce our manufacturing trade, energy stations and houses.
“However greater than 80 per cent of Australia’s gasoline is exported or used to transform to LNG exports. Why?
“Exporting gasoline at worldwide costs is extra worthwhile than offering reasonably priced gasoline to Aussie households and companies.
“In consequence, large gasoline has been making billions of {dollars} – and cop this – as a result of the gasoline provide is so tight within the home market, it’s common to seek out that Aussie gasoline is cheaper in China then it’s right here at residence.”
Each Qenos and Logos have been contacted for remark.
