CONSTRUCTION firm Interserve yesterday announced that its joint venture with waste management company Shanks Group had won a contract to build and operate a new waste treatment facility in Derby.
The companies yesterday signed a 27-year, £950m Public Private Partnership contract with Derby City and Derbyshire County Councils.
The project involves Interserve building a £145m Mechanical Biological Treatment (MBT) facility and an on-site gasification plant in Sinfin, south Derby, which Shanks will then operate alongside Derby’s existing waste management facilities.
They expect that the new facility will divert approximately 98 per cent of residents’ residual waste from landfill while generating enough green electricity to power an estimated 14,000 homes.
The generated electricity will be provided to the national grid, offsetting the cost of waste treatment to the councils.
To fund the project, RRS is raising £195m from the UK Green Investment Bank and international banks BayernLB and Sumitomo Mitsui Banking Corporation.
Interserve chief executive Adrian Ringrose said: “This facility will help both councils significantly increase their recycling rates, reduce the amount of waste being sent to landfill sites and boost Derbyshire’s local economy.”