Investment in former paper mill site; Taylor signs up with logistic partner; Financing agreed for Teesside plant; Willen Biogas chooses HRS Heat Exchangers
Investment in former paper mill site
A task force has earmarked £2.25m to help redevelop the site of the Tullis Russell paper mill in Fife after the company folded in April.
Future uses of the site include biomass heat generation and developments at Queensway Industrial Estate, as well as a long-term strategic assessment of the mid-Fife economy.
The cash is part of a £6m package from the Scottish Government to help ease the employment situation in the region after the mill closed with the loss of 403 jobs.
Taylor signs up with logistic partner
Container manufacturer Taylor and logistics specialist Wincanton have established a partnership by which the latter will be responsible for managing Taylor’s domestic transport arrangements.
Taylor says the deal will allow it to scale its manufacturing business and add value to the company’s offering by providing greater geographical reach, improved flexibility for its customers and speedier distribution times.
Wincanton has a network of 15,500 employees, 200 sites and a fleet of 3,600 vehicles.
Financing agreed for Teesside plant
Macquarie Capital and Macquarie’s Commodities and Financial Markets group have signed an agreement to support MGT Power in the financing of the 299MWe Teesside renewable energy plant, which is being backed by the Contract for Difference scheme.
The £650m investment is expected to create at least 600 jobs during construction and sustain about 100 full-time jobs once operational.
All major permits for the construction and operation have been secured, and Macquarie has started a debt raising process ahead of financial close due by the end of the year.
Willen Biogas chooses HRS Heat Exchangers
HRS Heat Exchangers has won an order for its digestate concentration system from Willen Biogas at a new multi-million pound anaerobic digestion plant which is currently being constructed at Cattlegate Farm in Enfield, London.
The system will reduce the requirement to store and apply digestate to land by around 40%, cutting capital investment accordingly.
Farming business D Williams & Co., which owns Cattlegate Farm, and grows arable crops and herbs on more than 2,000 acres of land, expects to save over £90,000 a year in fertiliser costs by using the compost and digestate.