The PFI project known as Essex Waste reached financial close on 31st May 2012. The project involves the construction and operation of a mechanical biological treatment facility which will be responsible for treating up to 377,000 tonnes a year of kerbside collected residual waste, tradewaste and non-recyclable waste from household recyling centres across Essex and Southend.
The consortium of Balfour Beatty and Urbaser were granted this concession, which included £100m of PFI credits.
Operis provided a full financial model audit including tax and accounting review and sensitivity analysis for the sponsors Balfour Beatty and Urbaser, the Authority, Essex County Council and the lenders, Bayerische Landesbank, Norddeutsche Landesbank and Sumitomo Mitsui banking corporation.
