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Australia’s Recycling Crisis: Victorian Government Steps in with Bailout

Australia’s Recycling Crisis: Victorian Government Steps in with Bailout

The bailout will be used to help pay for repairs and maintenance on machines at SKM’s sorting sites to divert stockpiled waste from landfill.

Massive heaps of foul-smelling waste have been abandoned after Victoria, Australia-based recycler SKM went into debt and stopped collecting materials from 30 area councils.

The Victorian government has now stepped in and said it will give receivers a $10 million bailout to help pay for repairs and maintenance on machines at four sorting sites to prevent refuse going to landfill.

SKM had been storing tens of thousands of tonnes of waste at five warehouses and also had large piles in other locations. Last week, receivers were appointed, and Australia’s largest garbage company Cleanaway acquired about $60 million of the debt, putting it in a position to take over SKM’s operations.

Now, the government is introducing tougher penalties for operators who stockpile dangerous chemicals.

News.com.au has more:

This is what $10 million worth of abandoned rubbish looks like.

The massive heaps were left neglected after Victorian recycling giant SKM went into receivership with debts of around $100 million.

Now the Victorian Government has announced it will give receivers a $10 million bailout to help pay for repairs and maintenance on machines at four sorting sites, in an effort to prevent the refuse going to landfill.

Read the full article here.

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