News blog
TEG Group
- BY: Andrew Hore |
- POSTED: 12/09/2011 |
Waste composting plants operator TEG Group has won a contract with Waste Recycling Group, which will supply mixed waste to TEG’s facilities.
The contract starts in November 2012 and lasts until March 2015. The total contract could be worth £2m-£3m.
This follows news that TEG and its partner Alkane Energy were appointed preferred bidders for a food waste contract for three North Wales councils: Denbighshire County Council, Conwy County Borough Council and Flintshire County Council. This is the first of a number of Welsh waste projects.
TEG will own 70% and Alkane 30% of NEAT Biogas, which will construct a 20,000 tonnes per annum Anaerobic Digestion plant. The contract will last 15 years with a potential extension of five years. The contract guarantees enough waste to fill 60% of the plant’s capacity.
At 10.5p a share, TEG is valued at £12.3m.
Interim figures will be published on 20 October.
Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf
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