A TREDEGAR business is aiming to create 200 new jobs in the Valleys by 2024.

Dragon Recycling Solutions has set the employment target after landing two major new contracts.

The company, which handles plastic waste from utility meter manufacturers and removing old-style utility meters as they are replaced by smart meters, has already hit its previous target of creating 110 jobs by 2021, and a further 25 will be created by the end of the year.

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“The new contracts we have won have doubled our turnover, and we are obviously delighted by this," said managing director Mick Young. "We are aiming within three years to have around 200 employees and to have significantly increased company turnover on the back of the long-term contracts we are winning.”

It has already purchased and re-purposed the former training centre on Tafarnaubach Industrial Estate in Tredegar, but Mr Young said further storage space would be required to continue the company's expansion.

“We have several million items at any one time and require large storage facilities. We have invested heavily in the Tafarnaubach site, and also have a base in Rhymney, but we are still looking for more,” he said.

In the last two years Dragon has expanded into testing and refurbishing meters as well as continuing to recycle those that have reached the end of their working life.

To incorporate this, large scale testing facilities have been installed at the Tafarnaubach site.

“This extra aspect represents an important expansion of the work we do and we see huge scope for developing this side of things,” said Mr Young. “It is good to see this equipment being safely and efficiently returned to service.”

Dragon Recycling Solutions was provided with a £100,000 loan through UKSE - which helps businesses in steel areas with investments, loans and premises - in 2019, as part of a £600,000 loan and grant package from the Welsh Government and Development Bank of Wales.

Martin Palmer, investment executive with UKSE, said: “The firm is providing a high number of long-term, stable jobs in an area which has suffered from the decline in traditional industries.

"It is also recruiting many young people and has an active apprenticeship programme. As well as this, Dragon is helping to improve the environment with its efficient recycling.”

Dragon has played a role in the fight against Covid. Working with the National Grid, the company has ensured there has been a steady supply of replacement utility meters instantly available for essential services in hospitals and care homes.