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SITA Consortium takes the prize

In an unprecedented win for the waste sector, SITA Consortium has been voted best private sector consortium at the Public Private Finance Awards 2007.


The consortium, made up of SITA UK, Royal Bank of Scotland (RBS) and AXA, closed two waste private finance initiative (PFI) projects in the past year:
Cornwall and Northumberland.

The award commended the consortium for the successful delivery of these waste PFI projects.

SITA UK PFI director Charles Dupont said: Were delighted to have won this award. Its recognition of the successful combination of SITA
UK s waste management partnering experience with the financial skills of RBS and AXA to come up with a new approach to structuring waste PFI projects.

Our clients in
Cornwall and Northumberland have also been instrumental in helping us develop this structure that we will take forward to our future PFI projects.

Both the
Cornwall and Northumberland project were delivered on non-recourse basis and involved a more detailed risk analysis than had been used in previous waste projects.

Lessons learned on these schemes will allow waste sector PFIs to be more robust and bankable in the future.

 

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