Infrastructure investor John Laing (JLG) has struck an agreement to invest £28m in an energy-from-waste plant in Perth, Australia. When up and running, the East Rockingham Resource Recovery Facility will generate close on 29 megawatts of renewable baseload energy, and will process around 300,000 tonnes of residual waste per year.
That’s the equivalent of taking 70,000 cars off the road, the company said.
‘Not only will it deliver a sustainable waste management solution but it will also make a critical contribution towards Australia's emission reduction targets’, said Justin Bailey, John Laing's regional managing director for Asia Pacific.
‘We are committed to delivering responsible infrastructure projects that will improve the local environments and communities they serve, and we look forward to working with our partners to deliver this exciting project’, Bailey added.
The deal means John Laing has committed close to £185m of investment funding to various infrastructure projects in 2019.
Shares in John Laing stayed flat at 377p, valuing the vehicle at £1.86bn.
