egolinews.com

Monadelphous Group Limited (MND) and AnaeCo Limited (ANQ) have formed a joint venture to deliver design-and-construct waste management solutions using AnaeCo’s patented DiCOM bioconversion system. Monadelphous said the JV would target projects for local government authorities and waste service companies which want alternative waste technology solutions to replace landfill disposal.

The company said AnaeCo would provide the technology and design services and Monadelphous would provide construction services under the JV.

Monadelphous said the JV initially applies to Australia and New Zealand and the companies have also agreed to explore ways to collaborate on construction projects using the DiCOM system in other markets.

The company said the first project scheduled for the JV is expansion of an AWT facility for the Western Metropolitan Regional Council at its Shenton Park, WA, waste transfer station.

Commencement of the project, expected to be worth approximately $35 million, is subject to project debt finance, council and works approvals.

Monadelphous managing director, Rob Velletri, said the agreement fits with the expansion of the company’s infrastructure business to continue to drive its long-term growth.

Meanwhile, AnaeCo managing director, Tom Rudas, said the JV with Monadelphous would enable the company to present DiCOM as a repeatable, replicable product and not just as a unique case-by-case installation.

As at 1036 AEDT, Monadelphous shares were up 12c to $15.57, while AnaeCo shares were up 1.5c to 23.5c.

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