Balfour Beatty, the international infrastructure group, announces today that it has been appointed preferred bidder for the £500 million Gloucestershire Residual Waste Project in joint venture with Urbaser. The 28-year PPP project involves the design, build and operation of an energy-from-waste facility for Gloucestershire County Council.
The project will be undertaken by a 30/70 joint venture between Balfour Beatty and Urbaser. Balfour Beatty will be involved in the design and construction of the facility, following which the facility will be commissioned and handed over to Urbaser to operate from late 2015 onwards.
The energy-from-waste facility will divert over 91% of Gloucestershire’s residual municipal waste from landfill. The facility is estimated to generate 116,000MW hours of electricity annually, which is sufficient to power more than 25,000 homes.
Balfour Beatty will invest 30% of the required equity, approximately £13 million, in the project which is expected to reach financial close in the second half of 2012.
Balfour Beatty Chief Executive, Ian Tyler, said:
“We are delighted to have been selected as preferred bidder for this long-term contract in the growing energy-from-waste sector. The facility will improve Gloucestershire’s waste infrastructure and make a major contribution to diverting more waste away from landfill.”
Analyst/investor enquiries:
Basak Kotler
Balfour Beatty plc
Tel 020 7216 6924
Media enquiries:
Marjorie Hooper
Balfour Beatty
Tel: 020 7216 6883
Notes to Editors:
1.Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.
2.Balfour Beatty launched its 2020 sustainability vision and roadmap in 2009. Our vision is focused on delivering more sustainable infrastructure. The energy from waste market is an important area of growth for Balfour Beatty, building on our integration capabilities from across the infrastructure lifecycle.
