Statement re Teaming Agreement

RNS Number : 6073B

Shanks Group PLC

22 February 2011

 



Shanks Group Plc - Teaming Agreement for the Wakefield Waste PFI Project

Shanks Group Plc today announces that Shanks Waste Management Ltd (Shanks) has entered into a teaming agreement with Babcock International (Babcock) in respect of the Wakefield Waste Management PFI Project. 

The agreement will see Shanks team with Babcock, the Preferred Bidder for the 25 year contract and together bring the project to financial close which is expected later this year.  The agreement provides a mechanism for Shanks to acquire Babcock's waste business following financial close.

The contract for Wakefield Metropolitan District Council (MDC) will support the council in its ambitious landfill diversion strategy and it will see approximately 200,000 tonnes of Municipal Solid Waste a year processed at facilities in South Kirkby and across the District. The proposed solution will include Materials Recycling Facilities, an Anaerobic Digestion plant and Autoclave Technology. The 'first in class' Autoclave facility has already been built and is undergoing a rigorous testing programme before entering full service. 

Joanne Roney, Chief Executive of Wakefield Metropolitan District Council commented, "We are very pleased that Babcock and Shanks have entered into this agreement and I look forward to working with the team to move the project to financial close." 

Tom Drury, Chief Executive of Shanks Group Plc said, "This is another example of Shanks providing long term solutions to the Municipal Sector and using a range of technologies to maximise recycling and diversion from landfill.  We look forward to working with Babcock and Wakefield MDC to bring this contract to financial close. Shanks brings genuine proven waste management experience to the Wakefield team and the project. This will bring the total of material handled by Shanks under PFI/PPP agreements to approximately 1.3 million tonnes."

Enquiries

Austen Lees, Head of Corporate Communications, Shanks Group Plc

Telephone [phone], mobile [phone], email [e-mail]

 

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