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, about GBP7m, in the project which is expected to reach financial close in the first half of this year.
Balfour Beatty, in joint venture with Urbaser, will oversee the design, construction and commissioning of the facility, following which the facility will be handed over to Urbaser to operate from mid-2015 onwards.
Upon completion, the facility will be capable of treating up to 417,000 tonnes of municipal waste a year.
Balfour Beatty is the international infrastructure group.
