Redhall agrees new £25m banking facilities

The Wakefield group, whose work ranges from designing and building a new bio-ethanol plant at the BP Chemicals Saltend site, said it had signed an agreement including a 20m facility committed until January 2015, replacing its existing 14m committed facilities which would have expired in April 2012.

A further 5m is to be provided through an overdraft facility.

Redhall said the facilities will be used for general corporate purposes. The margin and fees payable are "competitive" in the current environment and are broadly comparable to existing arrangements, it added.

David Jackson, executive chairman of Redhall, said: "We are delighted to enter into this new relationship with HSBC and welcome their commitment to the future growth of Redhall.

"This new four year facility is a testament to the balance sheet strength that we have created over the last five years and provides a platform to take the Group to a new level."