MegaProject 719: Clyde Valley waste project reaches Financial and Commercial Close
- ACS Group - Iridium Concesiones de Infraestructuras
- Balfour Beatty
- Fomento de Construcciones y Contratas (FCC)
- Cintra - Ferrovial
- Grant Thornton
- Pinsent Masons
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The Clyde Valley Residual Waste Project in Scotland has reached commercial and financial close.
Viridor Waste Management has signed the contract to design, build, finance, operate and maintain (DBFOM) the residual waste treatment facility. The waste centre will have the capacity to process around 190,000 tonnes of waste per annum.
Details about the financial close of the project have not been revealed.
In October 2015 we reported that Viridor had been selected as the preferred bidder for the £700 million (US$1.08 billion) residual waste PPP project in United Kingdom.
The five partner councils are East Dunbartonshire Council, East Renfrewshire Council, North Ayrshire Council, North Lanarkshire Council and Renfrewshire Council. North Lanarkshire Council is the lead authority for the process.
Procured by North Lanarkshire, the contract will have an operational period of 25 years and the service commencement date is anticipated to be 1 December 2019.
In December 2013 we informed that a shortlist of companies were invited to participate in detailed competitive dialogue for the PPP project contract:
- Amey Cespa (Ferrovial Group),
- Balfour Beatty/Urbaser (ACS Group),
- FCC Waste Services,
According to sources, Jim Logue, Leader of North Lanarkshire Council, said:
“This is an important contract in terms of the scale of waste processing and environmental benefits… By working in partnership, we are delivering improved services for residents, best value for tax payers, creating new jobs and recycling more waste which would otherwise go to landfill.”