Balfour Beatty, the international infrastructure group, announces that it has been appointed preferred bidder for the £800 million Essex Waste Partnership’s Residual Waste Treatment Contract. The project, a 30:70 joint venture between Balfour Beatty and Urbaser, is a 28-year PPP contract to design, build and operate a new sustainable waste treatment facility for Essex County Council and Southend-on-Sea Borough Council.
Balfour Beatty will invest 30% of the required equity, approximately £7 million, in the project which is expected to reach financial close in the first half of 2012. Balfour Beatty, in joint venture with Urbaser, will be involved in the design, construction and commissioning of the facility, following which the facility will be handed over to Urbaser to operate from mid-2015 onwards.
Once operational, the facility will be capable of treating up to 417,000 tonnes of municipal waste a year. As well as treating waste, the facility will incorporate a visitor and education centre for the benefit of the local community.
Today's announcement comes just three weeks after Balfour Beatty and Urbaser were awarded Gloucestershire’s 28-year Residual Waste Project.
Balfour Beatty Chief Executive, Ian Tyler, said:
“Much like the Gloucestershire project, the Essex award demonstrates the breadth and flexibility of our investment business model and further strengthens our position in the growing waste sector.
"This project will play a major role in delivering Essex and Southend-on-Sea’s waste management strategies, as well as providing a boost to the local economy through construction-related jobs and full-time employment and apprenticeship positions once the facility is operational.”
Analyst/investor enquiries:
Basak Kotler
Balfour Beatty plc
Tel 020 7216 6924
Media enquiries:
Marjorie Hooper
Balfour Beatty
Tel: 0207 216 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 waste market is an important area of growth for Balfour Beatty, building on our integration capabilities from across the infrastructure lifecycle.
