The developer of a major North Yorkshire mining project has revealed a £1 billion financing plan to allow construction to get under way, having agreed a £245 million deal with a firm chaired by an Australian billionaire. Last month, Sirius Minerals entered into the £245 million finance deal with Hancock
Carillion’s joint venture with US engineering giant KBR has secured a £1.1 billion construction and facilities management contract to re-base troops coming back from Germany by 2019. The Aspire Defence Capital Works joint venture will design and build 130 buildings, along with extensions and alterations to the current buildings and
The third phase of the regeneration of the Park Valley Mills commercial development in Huddersfield is now complete and fully let. The site, owned by Holmfirth Dyers, is being transformed into a business park that features 18 brand new industrial units with office and storage space. The mills were formerly derelict
Kier Integrated Services and Morrison Utility Services have secured places on a £400 million framework with Affinity Water. The companies have been appointed to the four year framework by the Home Counties and North West London water supplier. Broken down into three programmes, the framework has a combined value of
‘Save money and send us your waste windows for recycling’ is Recovinyl’s message to PVC window companies, construction and waste management firms. ‘Save money and send us your waste windows for recycling’ is Recovinyl’s message to PVC window companies, construction and waste management firms. Waste window frames can be readily
A £350m extension of the Manchester Metrolink tram network to Trafford Park has been approved by the government. Above: Artists impression of one of the stops on the new line Transport secretary Chris Grayling has granted Transport for Greater Manchester (TfGM) legal powers to build the new 5.5km line under
Italy-based construction giant Nacanco has reported growth in the first half of its 15th year in operation. This comes on the heels of the company’s activities to expand its fleet and increase its presence in the construction industry. Managing Director, Marzia Giusto, reported a 5% increase in sales and a corresponding
Architecture firm Hugh Broughton Architects has been granted planning permission for contentious designs to revamp the keep of York Castle. Last week York councillors voted in favour of the proposals by an 11 to three majority. This was despite a petition against the project which attracted more than 2,000 signatures (Stop
Willmott Dixon has appointed Richard Blakeway as a new strategic advisor for the division in an attempt to strengthen its residential property developer arm. Mr Blakeway has a significant amount of experience in the industry and is a former Greater London Authority (GLA) deputy mayor for housing. Since leaving GLA earlier
Eric Wright Group has seen revenues increase by a tenth despite profits taking a hit due to a “disappointing” performance from its construction sector. Latest accounts show that the group generated a £177.4 million turnover in the last calendar year. This is a 10% increase on the previous year. Meanwhile, profits before
The developer of a major North Yorkshire mining project has revealed a £1 billion financing plan to allow construction to get under way, having agreed a £245 million deal with a firm chaired by an Australian billionaire. Last month, Sirius Minerals entered into the £245 million finance deal with Hancock Prospecting, which is a privately owned firm operating in the agricultural and mining sectors which is chaired by the richest woman in Australia, Gina Rinehart. Along with the royalty financing deal with Hancock, Sirius said it would launch an underwritten placing and open offer to raise around £330 million to £400 million and an underwritten convertible bond offering to raise around £326 million to £367 million. Chris Fraser, Sirius Managing Director, said that the scheme will create jobs throughout Teesside and North Yorkshire, and represents a major business investment in the UK. ‘Compelling value proposition’ Fraser continued: “It’s been a long journey to this point, and we still have some way to go, but I want to thank everyone who has supported the company in its efforts to reach this major milestone. “Once we have received shareholder approval, we want to get on with the job of delivering this compelling value proposition, not only for our shareholders but also for the North Yorkshire community.” Sirius is anticipating that the project will progress in two phases: the initial construction phase and the expansion phase. The initial construction phase is intended to achieve first production from the mine within the next five years. The expansion phase will be funded from operational cash flows and is intended to eventually increase production capacity subject to receipt of further planning permissions and the completion of additional infrastructure. This first tranche of cash will finance the cost of all site preparation, mine shaft excavations, tunnel caverns and the money is expected to be spent in three years. The second round of fundraising will bring in a further US$1.8 billion.
Carillion’s joint venture with US engineering giant KBR has secured a £1.1 billion construction and facilities management contract to re-base troops coming back from Germany by 2019. The Aspire Defence Capital Works joint venture will design and build 130 buildings, along with extensions and alterations to the current buildings and associated infrastructure. The construction works throughout Aldershot and the Salisbury Plain Training Area are set to begin straight away. They are worth £680 million, which will be shared equally between the partners. The facilities management and maintenance of the new camps and garrisons will be provided by a separate joint venture between both companies, known as Aspire Defence Services. The Project Allenby/Connaught PFI contract was let to Aspire in 2006. Together this will generate £430 million of support services revenue over the remaining 25 year contract. The additional service provision will begin as soon as construction of the first asset is completed, which is expected to be in May 2017, and will run until 2041. ‘We are delighted’ Carillion chief executive Richard Howson said: “We are delighted that Aspire Defence Limited and its sub-contractors Aspire Defence Capital Works and Aspire Defence Services have been selected by the Ministry of Defence to deliver this major element of the Army Basing Programme. “I believe this reflects in the successful delivery of new living and working accommodation along with associated assets for Project Allenby/Connaught, together with the high-quality, value for money services that will continue to be provided for this project.” Last month, Carillion secured a £350 million contract to continue its support of Nationwide Building Society. With the new deal, the buildings and maintenance firm will maintain its management facilities at Nationwide’s Swindon headquarters, its 15 corporate offices, its data centres and its 700 high street outlets throughout the UK. It is a seven-year contract with the potential to be increased to ten, and renews the existing nine-year partnership between the two companies. Shares in Carillion jumped 1.53pc early on Tuesday morning to 255p. Image: MoD/Crown copyright 2016. Photographer Ian Griffiths
The third phase of the regeneration of the Park Valley Mills commercial development in Huddersfield is now complete and fully let. The site, owned by Holmfirth Dyers, is being transformed into a business park that features 18 brand new industrial units with office and storage space. The mills were formerly derelict for a number of years, with many buildings falling into disrepair. The revamped site off Meltham Road, Lockwood, will create new jobs and regenerate the area. In total, over 100 new jobs have been created on site. Phase Three of the commercial development is now fully occupied thanks to two significant new lettings. The new occupiers are Boge Compressors and The Gift Oasis. Boge Compressors will occupy Units 10, 11 and 12, which total 12,750 sq ft, while The Gift Oasis will occupy Units 13 and 14, a total of 5,000 sq ft. The Gift Oasis’ Lisa Benfield said: “By 2012, we were outgrowing our old premises in the Canal Works in Huddersfield and we were shoulder to shoulder with our quirky gifts. So the quest began for a new home. “Mountains of research and establishments later, Park Valley Mills was found. It was the shining light in the distance with its new buildings, which had more room, and an accommodating site manager, who agreed to our request to have an office attached to our warehouse. “Of course the large size, the security and the secluded location were also selling points when researching our new home. Park Valley Mills was perfect. Our staff has now increased for 10 to 20 and there is so much more room for stock, which is just as well with Christmas just around the corner.“ Work on the fourth phase of the 14,000 sq ft development will be finished next month with three units already under offer. Mike Haigh, partner with leading Leeds property consultancy Dove Haigh Phillips, commented: “This is a superb development for Huddersfield, which is already creating jobs and regenerating the area.”
Kier Integrated Services and Morrison Utility Services have secured places on a £400 million framework with Affinity Water. The companies have been appointed to the four year framework by the Home Counties and North West London water supplier. Broken down into three programmes, the framework has a combined value of £100 million per year. Its three programmes are made up of: Distribution Mains; Developer New Mains and Services (Developer Services); and Design and Installation of Trunk Mains. Morrison Utility Services has been appointed to the Distribution Mains and Developer Services programmes. The company will take responsibility for design and build works covering 100 km of mains renewals per year, while also working on more than 600 developer services schemes. Kier has been chosen for the Trunks Mains programme and will design and install trunk mains to transport water around the Affinity Water network. The contracts will start in January. The framework makes up the bulk of Affinity Water’s £500m infrastructure investment between 2015 and 2020. Kier and Morrison Utility Services previously worked together under Anglian Water’s AMP6 programme. The two firms secured contracts with the water supplier in 2014. Kier was selected along with Clancy Docwra to deliver Anglian Water’s AMP6 Integrated Metering and Developer Services contract, valued at up to £12m a year. Kier, Morrison Utility Services and Barhale were chosen for Anglian Water’s Integrated Operational Solutions contract, valued at around £70m over five years. Meanwhile, Kier has announced “significant revenue growth to £1.7 billion, up 34 per cent,” according to the firm’s full-year results. The company said that the results for the year ending June 30 this year were underpinned by “a raft of strong facilities management contract wins, worth a total of around £100 million.” The results also showed that underlying profit from operations of £150 million increased by 44%, including a full year’s contribution from Mouchel.
‘Save money and send us your waste windows for recycling’ is Recovinyl’s message to PVC window companies, construction and waste management firms. ‘Save money and send us your waste windows for recycling’ is Recovinyl’s message to PVC window companies, construction and waste management firms. Waste window frames can be readily recycled through the PVC industry’s recycling scheme, enabling firms to save on landfill disposal costs. It’s also the environmentally-friendly option as the material can be recycled into new products, including windows. Recycling capacity has increased throughout the UK network of 16 Recovinyl certified window recyclers and they are seeking more frames. Most offer a nationwide collection service. “We are doing well, but we can handle even more windows,” says Jane Gardner of Axion Consulting, Recovinyl’s UK agents. “So whether you’re an installer, waste transfer station or building company, send your waste PVC windows to one of our registered Recovinyl recyclers and it will save you money on landfill costs.” Recovinyl is an operational arm of VinylPlus, the European PVC industry sustainable development programme, which is tackling the sustainability challenges for PVC and delivery of current recycling targets to 2020. The Recovinyl network currently comprises 163 companies. In 2015, 107,593 tonnes of waste PVC was collected and recycled in the UK through Recovinyl – the highest figure recorded to date, with PVC-U frames (61,866 tonnes) making up more than half this total. Jane continues: “More than 600,000 tonnes of PVC has been recycled in the UK via Recovinyl since its launch in the UK 11 years ago thanks to the commitment of the glazing, construction and waste management sectors to greater environmental practices and their recognition of the need to reduce the carbon impact of their operations. She adds: “PVC can be recycled up to seven times without any loss of performance and can be reused in a variety of different products, including new window frames thereby ‘closing the loop’. As a nation, we’re doing brilliantly on recycling our waste PVC, yet we can still do much more and we need your support.” Window installers and waste transfer stations who are looking for outlets for post-use PVC frames can contact Axion Consulting on 0161 426 7731 for a list of recyclers or for more information visit www.recovinyl.com. Source link
A £350m extension of the Manchester Metrolink tram network to Trafford Park has been approved by the government. Above: Artists impression of one of the stops on the new line Transport secretary Chris Grayling has granted Transport for Greater Manchester (TfGM) legal powers to build the new 5.5km line under a Transport & Works Act order. Construction work could start this winter and the line be operational by 2021. TfGM said that it woul appoint a contractor ‘shortly’. The Trafford Park line will branch off from the existing Pomona stop and call at six new tram stops at key destinations, including Wharfside, near to Old Trafford football stadium, the Imperial War Museum, and key business areas through the industrial park. The majority of the new route is not on roads to ensure faster, more reliable journey times. It will pass under the Trafford Road Bridge and run alongside the existing promenade next to Manchester Ship Canal before joining Trafford Wharf Road. The new line will increase the size of the Metrolink network to more than 66 miles (106.5km) with 99 stops. The £350m funding package to build the line has already been secured by Greater Manchester Combined Authority through the ‘earn back’ funding arrangement as part of the Greater Manchester devolution deal. This article was published on 14 Oct 2016 (last updated on 14 Oct 2016). Source link
Italy-based construction giant Nacanco has reported growth in the first half of its 15th year in operation. This comes on the heels of the company’s activities to expand its fleet and increase its presence in the construction industry. Managing Director, Marzia Giusto, reported a 5% increase in sales and a corresponding increase in the company’s operating profit. He claimed this was in part due to longer average rental contracts and utilisation which grew from 62% to 65% in two years. Company reports also indicate that the firm’s ReRent service continually records profits. The company has also invested in expanding its fleet. It recently purchased JLG electric scissor lifts with 8m-10m working heights, an 18m JLG diesel articulated boom lifts and 20m Socage truck mounts. Nacanco now boasts more than 2500 pieces of equipment for hire. This comprises over 100 different models with a range of capabilities catering for heights between 3 and 43 metres. The Managing Director went on to recall the giant strides made by Nacanco’s sister company. Nacanco Service grew in terms of turnover, number of certified operators and range of different training facilities it provides. Giusto, stated that the company expects to keep the current growth rates and margins until the end of the year. The announcement comes as Nacanco celebrates 15 years in the aerial equipment rental sector. Employees celebrated with an open day at the company’s head office in Montichiari, Brescia. The celebrations also saw the launch of a new branch in Verona, a city in the north of Italy. ‘Increase the level of services’ Commenting on the launch of the new branch, the commercial director of Nacanco, Ramon Santamaria stated that it was part of the company’s strategy to increase the level of services offered to final users, both in terms of the variety of equipment offered and the firm’s presence in the industry.”
Architecture firm Hugh Broughton Architects has been granted planning permission for contentious designs to revamp the keep of York Castle. Last week York councillors voted in favour of the proposals by an 11 to three majority. This was despite a petition against the project which attracted more than 2,000 signatures (Stop English Heritage Making Clifford’s Tower Look Like Disneyland!). Hugh Broughton Architects is working with conservation specialists Martin Ashley Architects on the scheme. It landed the project after a competition in January last year. The scheme, backed by English Heritage, is striving to improve visitor facilities inside the ruined keep. A timber structure will be installed to partially cover the ruin. The company will also provide a viewing platform at roof level. The new additions will rest on pad foundations designed to spread the loads without impacting on the archaeology of the tower. A new single-storey visitor centre at ground level will also feature an orientation area, staff offices and facilities. A substantial section of the tower’s wall, buried since 1935, will be uncovered as part of the project. Clifford’s Tower is the biggest surviving structure from the medieval royal castle of York. The castle was was an important seat of government of the North of England in the Middle Ages. It was constructed atop a tall earthen mound in the mid-13th Century. It was ruined by fire in 1684 and has stood roofless since. The castle mound is thought to have been raised during the reign of William the Conqueror. ‘Thrilled’ Jeremy Ashbee, head curator of properties at English Heritage, commented: “This project will reveal more of Clifford’s Tower than ever before and allow us to finally do justice to its remarkable history. “An enormous amount of care was taken in preparing the planning application, in consultation with planners, designers and members of the public. We are thrilled to have permission to go ahead with this project.”
Willmott Dixon has appointed Richard Blakeway as a new strategic advisor for the division in an attempt to strengthen its residential property developer arm. Mr Blakeway has a significant amount of experience in the industry and is a former Greater London Authority (GLA) deputy mayor for housing. Since leaving GLA earlier in the year, Blakeway spent many months advising the Government on housing policy. In this new role, Mr Blakeway will offer strategic advice to Willmott Residential to increase development volume throughout London in conjunction with local authorities and other land owners; particularly in growing ‘Be:here’, the company’s build for rent business. ‘Tremendous breadth of knowledge’ Willmott Residential Chief Executive, Nic Simpkin, commented: “Richard brings a tremendous breadth of knowledge of housing with a proven track-record for unlocking opportunities to deliver significant numbers of homes while at the GLA. I’m delighted Ric’s experience is going to play a key role in the next phase of our growth as we target new land opportunities, including creating a real step change in build for rent homes, with our next development in Hayes for 118 homes being delivered next month and developments at Barking and Kew ready to start having obtained planning consents.” Mr Blakeway said: “This is a fantastic opportunity to play an important part in Willmott Residential’s growth. I’ve been impressed with how its build-for-rent company Be:here has raised the bar for this emerging asset class and given the huge availability of institutional investment in money for build-for-rent, coupled with the significant need, we can really increase the availability of quality homes for people to rent.” Meanwhile, Willmott Dixon has secured a £20 million contract to build a new science and technology facility in Wales. The location of this development is in M-SParc’s science park in Gaerwen, Anglesey. Work on the 20-acre site is to begin later this year and with a completion time of early 2018.
Eric Wright Group has seen revenues increase by a tenth despite profits taking a hit due to a “disappointing” performance from its construction sector. Latest accounts show that the group generated a £177.4 million turnover in the last calendar year. This is a 10% increase on the previous year. Meanwhile, profits before tax decreased by 14% to £7.8 million over the same time frame. Eric Wright Group is the holding company behind the Eric Wright group of companies. The group’s activities include facilities management, property development, civil engineering, contracting and building. Alongside the accounts there was also a report. In this, chairman Eric Wright stated that “the principal reason behind the reduced profitability was the disappointing performance reported by our construction division.” Wright continued: “Despite the reduced operating profit in construction, its turnover was £17m stronger in 2015 contributing to an overall group turnover of £177m, some £17m higher than the prior year. The other division which saw a significant increase in turnover during 2015 was the water and civil engineering business up at £42m (2014: £28m).” The chairman also said that the construction division was unable to meet programme commitments on two private finance initiative (PFI) contracts. As a result were liable for “substantial liquidated damages and incurred significant cost overruns.” The losses incurred from these contracts were “onerous” because of the conditions associated with PFI contracts and had a severe impact on the results for last year. ‘Excellent progress’ He added that the resulting £1.7 million loss saw further increase following the resolution of positions on some legacy contracts. As well as this, general market factors resulted in unforeseen delays to secured contracts starting onsite. Jeremy Hartley, managing director at the Eric Wright Group, said: “The group made some excellent progress across many of its core businesses in 2015, ending the year with another robust set of financial results – a profit before tax of £9.88m.