Hong Kong Science and Technology Parks (HKSTP) on Tuesday said it has done its best to help a recycling firm which is set to lose its base at a Yuen Long industrial estate that is being developed into a high-tech park.

Mil Mill, which is Hong Kong's only beverage carton recycling company, signed a three-year lease for the site in January 2019 and was later given a one-year extension.

It has been told to move out by the end of the year, but says it doesn't know if can find somewhere suitable for a new factory.

HKSTP CEO Albert Wong said they would like to hold talks with Mil Mill, but added that they have already done their best to help the firm.

"We need to balance between different kinds of sectors, stakeholders, including the development of the INNOPARK, which is a very important part of the whole development of Hong Kong," he said.

"That is why we are working with the Environment Bureau and the Innovation, Technology and Industry Bureau, to make it a good future for Hong Kong, including green tech."

At a press conference on Tuesday, Mil Mill said it had been assured it could stay at the industrial estate for six years, adding that it wouldn't have invested HK$10 million in the recycling facility if it knew the lease would not be renewed.

Founder Harold Yip said he can't understand why his firm is being forced out.

"They should provide us with a timetable [for the development of the high-tech park]. If there is no timetable, it's unfair to us and also to the public... We definitely respect developing the microelectronics centre," Yip said.