Engineering, construction and maintenance services company Monadelphous Group Ltd
(ASX:MND) and waste management company AnaeCo Ltd
(ASX:ANQ) have formed a joint venture to design and construct waste management solutions using AnaeCo’s patented DiCOM bioconversion system.
The joint venture will target projects for local government authorities and waste service companies which want alternative waste technology solutions to replace landfill disposal.
AnaeCo will provide the technology and design and Monadelphous will provide construction services under the joint venture.
The joint venture’s first project is expansion of an AWT facility for the Western Metropolitan Regional Council at its Shenton Park, WA, waste transfer station.
Commencement of the project, which is worth around $35 million, is subject to project debt finance, council and works approvals.
Monadelphous managing director Rob Velletri says the joint venture agreement supports the company’s strategy of diversification.
Monadelphous reported profit of $74.24 million for fiscal 09.
