Palisade to fund AnaeCo waste plant

06/08/2010 - 15:18

Bookmark

Save articles for future reference.

Perth company AnaeCo has announced Infrastructure Fund Manager, Palisade Investment Partners, has given in-principle approval to fund construction of an expanded waste treatment facility at Shenton Park.

Perth company AnaeCo has announced Infrastructure Fund Manager, Palisade Investment Partners, has given in-principle approval to fund construction of an expanded waste treatment facility at Shenton Park.

Late last week AnaeCo got Department of Environment and Conservation approval for expanding the facility, which will treat 55,000 tonnes of municipal solid waste per year once the expansion is finished.

The facility produces energy from biogas, agricultural grade compost and recyclables.

The plant expansion will be managed by AnaeCo, which developed the waste treatment technology, and its joint venture partner Monadelphous, which will provide construction services.

Today AnaeCo announced it had reached a deal with Palisade Investment to fund the $35 million project.

The director of Investments at Palisade Investment, Roger Lloyd said, "While there are a number of tasks to be completed before a final investment decision can be made by Palisade, the in-principle approval is an important step in the process to bring about final closure of Stage 2."

AnaeCo managing director Tom Rudas said, "As the majority partner of the DiCOM investment Trust, which owns the DiCOM facility at Shenton Park, Palisade has already demonstrated its significant commitment to the DiCOM technology and the WRMC facility."

"Palisade's in-principle approval to invest in Stage 2 directly reflects its continued commitment to this project," he said.

AnaeCo and Monadelphous are forecasting commencement of construction in November 2010.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options