Tel Aviv [Israel], May 2 (ANI/TPS): Israel is investing 400 million Shekels (USD 110 million) in the promotion and development of the recycling industry in the country. The support is intended for the establishment or expansion of recycling plants. In a similar way, the expansion of existing industrial plants will be possible - as long as the goal is the production of raw materials and new products from waste sorting or recycling.

In Israel, about 6.15 million tons of municipal and commercial waste are produced every year, of which only about 24.3 per cent are recycled.

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Recycling products at the end of their life prevents their landfilling and the many environmental hazards created as a result of landfilling. It also prevents many polluting processes required to produce new products such as mining, processing and transportation. An economy in which products do not go to landfill but are put back into production processes is called a "circular economy". The basis of this type of economy is the correct design of products, reuse of existing products, optimization of resources, separation of waste at source, waste sorting and waste recycling.

As part of work done in the Industries Directorate of the Ministry of Economy, it was found that the unused recycling potential of only mixed waste in households and industry is estimated at approximately 3.2 billion Shekels (USD 870 million) and another 940 million Shekels (USD 255 million) that will be saved as a result of reducing greenhouse gases. On top of that, it emerged that recycling plants do not have a suitable route to receive government funding. (ANI/TPS)

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(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)