The Cornwall Integrated Waste Management PFI Project completed financial close on Monday 16th October. The project is for an integrated waste management contract to oversee 300,000 tonnes of household waste. Approximately £200m of senior financing was arranged to develop the material recycling facilities, new transfer stations, composting facilities and an energy-from-waste plant for the treatment of non-recyclable refuse.
The successful consortium was SITA, with the financing jointly provided by Royal Bank of Scotland and European Investment Bank.
Operis formally reviewed the financial and operating models on behalf of the lenders, consortium and authority in the lead-up to financial close.
