Re-turn, the operator of the country’s Deposit Return Scheme (DRS), is planning to build a multimillion-euro recycling facility for plastics, which it hopes will be operational by the end of next year.

The company currently exports up to 90 per cent of PET plastic collected through the scheme due to the absence of a bottle-to-bottle facility in Ireland that can process the material needed to produce new drink containers.

Re-turn intends to use some of the funds accumulated from unreclaimed deposits and producer fees to develop the new facility.

The company had a cash balance of €89.8 million at the end of last year, having retained €66.7 million in unclaimed deposits.

As many as seven prospective contractors have expressed an interest in building the recycling facility, and it is understood that a tendering process for the operation of the plant is also underway.

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