The British waste management company Shanks Group plc has secured financing for a residual waste management plant it will build in England a under a 27-year public-private partnership contract with Derby City and Derbyshire County Councils. The company said construction could now begin on a mechanical biological treatment (MBT) plant and gasification facility at Sinfin Lane, in a 21 August statement. With an estimated cost of £145m and a treatment capacity of up to 190,000 tonnes of waste per year, the new plants will be built by the Interserve group, Shanks’ consortium partner. Construction is expected to be completed by April 2017.
According to Shanks, funding of up to £195m was being raised through the UK Green Investment Bank, Bayern LB and Sumitomo Mitsui Banking Corporation. According to the Green Investment Bank, which is providing £64m for the plants, the project would be the first of its type to be funded by long-term project finance.