Eversheds has advised Derby City Council and Derbyshire County Council on the latest milestone in their £950m long-term waste management public-private-partnership (PPP) contract — the achievement of financial close.
Interserve Construction and Shanks Waste Management were awarded the contract in December 2009 and have been providing interim services while planning permission was being obtained for the construction of a new mechanical biological treatment facility and on-site gasification plant.
Interserve is expected to build the new facility by April 2017, with Shanks then due to operate it for 25 years alongside the existing waste management facilities. The project’s £195m funding requirements have been provided through BayernLB, Sumitomo Mitsui Banking Corporation and the UK Green Investment Bank.
The Eversheds team was led by partner Sophie Robinson.