UK Coal plans joint venture with Peel Group

The joint venture plans to develop waste facilities on 11 properties within the group’s Harworth Estate portfolio.

The properties are typically based on industrial sites which UK Coal has been unable to develop for commercial uses.

The aggregate base value for all 11 sites is £14.7m.

Commenting on the proposed joint venture, Jonson Cox, the chairman of UK Coal, said: “This proposed waste to energy joint venture with the Peel Group will enable UK Coal to benefit from, and mitigate the risk and cost of, the development of 11 sites in the company’s property portfolio.

“These sites have not been identified as suitable for alternative development uses. This represents part of UK Coal’s focus on simultaneously unlocking and developing the maximum value from its property portfolio.”