A Norwegian firm is hoping to create around 50 jobs in the North East after unveiling plans for a recycling plant in Sunderland.
Quantafuel has announced proposals to expand its operations into the 海角视频 with a series of processing plants that would create high value products from plastic waste.
It has singled out a site at the Port of Sunderland, submitting a preliminary planning application this week after talks with the Port of Sunderland and Sunderland City Council about the proposal.
Read more: go here for more North East business news
The company transforms plastic waste into sustainable products that are in high demand and aims to help the battle to reduce plastic waste.
It is working on a 12-acre site on the eastern edge of the port, saying that its plans would create 50 jobs, plus hundreds in the construction process.
The company鈥檚 interim CEO Terje Eiken said: 鈥淚鈥檓 pleased to announce Quantafuel鈥檚 expansion into circular plastics in the 海角视频.
鈥淭his is an important step because we see strong potential in the 海角视频 market. By upgrading used plastic waste into valuable products, we will contribute towards the circular economy and help to improve the 海角视频鈥檚 plastic recycling rates.
鈥淲e鈥檝e identified an excellent site in Sunderland and are grateful for the positive welcome from the port and the city council. We look forward to pushing circular plastics in the 海角视频.鈥
The plant will be designed to process more than 100,000 tonnes of plastic per year and process plastic waste from across the North.
The proposals have been welcomed by Sunderland City Council leader Graeme Miller, who is also chair of the Port of Sunderland.
He said: 鈥淲e are absolutely thrilled that Port of Sunderland has been chosen as the preferred location for Quantafuel鈥檚 first 海角视频 operation.
鈥淪underland is a city transforming, and investments like this, allied with other significant developments in the city centre, Washington and the Coalfields, give an increasing confidence in the economic future of our city.
鈥淭here has been a concerted drive to stimulate investment in the city in general and the port in particular, with a huge programme of infrastructure works carried out to make parts of the estate shovel-ready. Quantafuel鈥檚 decision to locate to Sunderland vindicates this work and is testament to the ambition of the Port of Sunderland and the city council as its municipal owner.鈥
Quantafuel recycles plastic waste by breaking it down chemically to produce oil that can be used in the production of virgin-grade recycled plastic.
It will aim to recycle plastics that are currently not recycled, such as soft food packaging and other domestic plastics that are often thrown away.
It has formed a joint venture for the planned Sunderland with Midas Group AS.
You can join the BusinessLive North East conversation on and
