Fire has ripped through a recycling depot in Central Otago tonight, leaving the building on the verge of collapse.

The Fire Service were called to Central Otago Wastebusters on Boundary Rd in Alexandra just after 8pm and arrived to find the building "well ablaze".

A spokesman for the Fire Service said eight trucks from three different brigades attended.

It was a "significant fire" for a small township like Alexandra, he said.

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The fire is now contained, but firefighters remain at the scene conducting a salvage operation.

The spokesman said the single-storey commercial building is currently a hazard, with a risk that it could collapse.

It is not yet known what caused the blaze and a fire investigator is due to arrive at the scene early tomorrow morning.

No one was injured as a result of the fire.