ITOCHU Has Signed Waste Management Public Private Partnership Contract
OREANDA-NEWS. ITOCHU Corporation, together with SUEZ ENVIRONNEMENT subsidiary, SITA UK, and Scottish Widows Investment Partners (SWIP) has signed a 25-year resource recovery contract worth approximately GBP 1.4billion (Approximately 224 billion yen) with the West London Waste Authority ("WLWA").
Residual waste (the waste left over once all of the recyclable material has been separated out) collected from the London boroughs of Brent, Ealing, Harrow, Hillingdon, Hounslow and Richmond upon Thames, which have a combined population of 1.6 million people, will be transported by rail to the new Severnside Energy Recovery Centre ("SERC") in South Gloucestershire, which uses energy-from-waste technology to convert the material into energy.
The contract is to manage up to 300,000 tonnes of residual household waste each year and includes taking-over the existing two rail-linked waste transfer stations in West London. The contract also includes the design, build, finance and operation of SERC, which will generate enough electricity to power the equivalent of 50,000 households.
By using this solution, the West London Waste Authority will be able to divert 96 per cent of it residual waste from landfill and will save two million tonnes of CO2 over the duration of the contract.
This is the third signed waste management contract for ITOCHU in the UK, following participation of South Tyne & Wear Waste Management Partnership, a contract executed in April 2011, the Integrated Waste Management PFI Contract in Cornwall Council, a contract executed in March 2013.
ITOCHU will make full use of its experience in this field to strengthen its initiatives in Eastern Europe, the Middle East and Asia.