Shanks signs £750m waste deal with Wakefield Council

SHANKS is to build a waste treatment facility in Wakefield after signing a 25-year contract with the city’s council.

The private finance initiative (PFI) contract is worth an estimated £750m. The project is part-funded by the UK Green Investment Bank, alongside other commercial banks.

The main site at South Kirkby, West Yorkshire, will provide a selection of facilities to recycle, treat waste and generate sustainable power in the Wakefield District.

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Overall the facilities will process on average approximately 200,000 tonnes per annum of municipal solid waste.

Waste management business Shanks said the contract will seearound 250 people recruited to work on construction of the new facilities and a further 60 permanent positions created.

Peter Box, leader of Wakefield Council said: “It is excellent news for the district, bringing jobs and investment, as well as improving a service which is always high on the public’s agenda.

“It gives us the opportunity to safeguard jobs of current employees who work in this area and provide new jobs in one of the most deprived areas in the district with the building and opening of the new waste treatment plant in South Kirkby.”

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The UK Green Investment Bank will provide up to £30.4m of senior debt to the project on commercial terms alongside a banking syndicate of international banks; BayernLB, Sumitomo Mitsui Banking Corporation, and Barclays Bank which together are providing a total of £121.7m.

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