The Bernalillo County, N.M., County Commission has approved a $16 million industrial revenue bond (IRB). The money raised through the sale of the revenue bond will be used by Friedman Recycling of Albuquerque LLC, an affiliate of Phoenix-based Friedman Recycling to build a single-stream recycling facility in Albuquerque, N.M. The company hopes to start construction on the 70,000-square-foot facility in Albuquerque by June 2012 with the facility fully operational by the first quarter of 2013, says David Friedman with Friedman Recycling.
Equipment for the new MRF will come from Bulk Handling Systems (BHS). Friedman says the equipment should be able to process around 30 tons of recyclables an hour.
The commission voted in April to consider the bond application. IRBs provide companies a number of tax breaks for the life of the bonds. The bonds are paid off by the companies.
Sponsored Content
Tackling the Extreme Grind
Built for the toughest applications, our Heavy Duty Granulators and Shredders deliver high-quality output, less waste, and efficient operations. With rugged designs and unmatched reliability, they’re ready for the extreme grind—keeping your production line moving and your recycling process profitable. Tackle more. Waste less. Perform at peak.
The company will invest around $19.5 million to acquire land, construction and equipment for the facility. The company had requested as much as $16 million in IRB inducement with an abatement rate set at 70 percent.
Get curated news on YOUR industry.
Enter your email to receive our newsletters.
Latest from Recycling Today
- Plastics treaty talks set to begin sixth phase
- Amp, Waste Connections break ground on MRF project
- Michael Bros. announces leadership promotions
- Containerboard production declines in Q2
- Georgia-Pacific names new CEO
- Sims to supply planned Australian EAF mill
- Umicore boosts revenue, returns to profitability
- SENNEBOGEN 340G telehandler improves the view in Macon County, North Carolina
