A newly constructed waste treatment plant in melbourne that treats industrial waste and contaminated soil has gone into voluntary administration, owing secured creditors about $83 million.
Renex Industries and its various subsidiaries entered voluntary administration on October 9, with administrators Rahul Goyal, Craig Shepard and Richard Tucker of KordaMentha appointed to manage the administration process.
The company’s treatment plant is based in Dandenong, in Melbourne’s outer suburbs, and is Australia’s first permanently located integrated waste treatment and resource recovery facility.
According to its website, Renex is a private company, with shareholders including the Cleantech Australia Fund, the Victorian Clean Technology Fund and Macquarie Bank.
It was established to accept and treat contaminated soils and other industrial waste that would otherwise have been headed for landfill.
Construction on the treatment plant began in September 2012 and stage two began in mid 2013.
The website claims the facility was expected to be fully operational by early 2015.
Administrator Rahul Goyal of KordaMentha said in a statement Renex would continue to trade as usual while the administrators look at options including…
