Johnsons Aggregates receive £10 million funding for IBA plant
Tuesday, November 15, 2016 - 10:22
New recycling plant will increase incinerator bottom ash processing capacity to 450,000 tonnes per annum
EAST Midlands-based Johnsons Aggregates & Recycling have received a £10 million package – part funded by the Business Growth Fund (BGF) – to support the construction of an advanced plant for the recycling of incinerator bottom ash (IBA).
Due for completion in early 2017, the Stanton plant in Derbyshire has received £5 million of investment from the BGF which, according to reports, is backed by Barclays, HSBC, Lloyds, RBS and Standard Chartered, and a further £5 million debt facility from NatWest.
Johnsons currently recycle around 150,000 tonnes of IBA every year, but the new processing facility – said to be one of the most advanced of its kind in the world when completed – will increase the company’s capacity to 450,000 tonnes per annum.
Steve Johnson, chief executive office of Johnsons Aggregates & Recycling, said: ‘The completion of the Stanton facility, which has taken five years of planning and execution, will be a huge milestone for the business. It will significantly increase our processing capacity and efficiency, and provide a gold standard for IBA recycling in the UK.’
He added: ‘We could have continued to fund this project without BGF’s financial backing but their ability to provide longer-term support puts us on a great footing as we implement our expansion plans.’