Recycling company Viridor has called on support services group Interserve to build a recycling and renewable energy centre for Glasgow City Council.
Viridor, a subsidiary of water group Pennon, has signed a 25-year "design, build, finance and operate" contract with the council to recycle and treat Glasgow's residual municipal waste, and Interserve will be paid £146m to handle the design and build part of that undertaking.
Subject to Viridor securing planning permission, which is hoped will be in early 2013, work is expected to commence on site in the summer of 2013 and to complete in early 2016.
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Shares in Interserve were barely changed on the announcement.
JH
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