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- The Environmental Group (EGL) is successful in an offer for the sale of a leading recycling solution for its construction and demolition waste worth $49 million
- EGL is entitled to a sales commission which will be invoiced and recognised in stages over the term of the contract
- EGL’s Total Air Pollution Control (TAPC) division will design and supply the dust extraction system with a value of over $1.5 million
- The plant will be in Brisbane and is scheduled for completion by June 30, 202 and will be able to recycle up to 475 tonnes per day and will enable diversion of up to 95 per cent of all products processed
- The Environmental Group (EGL) last traded at 27.5 cents before market open on March 18
The Environmental Group (EGL) is successful in an offer under the Turmec Engineering agency agreement for the sale of a leading recycling solution and its construction and demolition waste worth $49 million.
EGL is entitled to a sales commission which will be invoiced and recognised in stages over the term of the contract.
In addition, EGL’s Total Air Pollution Control (TAPC) division will design and supply the dust extraction system with a value of over $1.5 million.
The plant will be in Brisbane and is scheduled for completion by June 30, 2023. It will recycle construction and demolition waste from the Southeast Queensland market.
The plant can recycle up to 475 tonnes per day and will enable the diversion of up to 95 per cent of all products processed from landfills, minimising the environmental impact.
The high-quality product constructed from the plant will be sold into the domestic market and includes civil construction materials, metals for recycling, and solid fuel as part of the circular economy.
EGL signed the agency agreement with Ireland-based Turmec back in February 2021.
Turmec is recognised as providing state of the art solutions to the waste industry with Europe long being recognised as the source of leading technology and is now bringing its expertise into the Australian waste market.
The tender pipeline remains strong with several other tenders due for award in the coming months.
EGL believes this support along with other key industry drivers means it is well placed to participate in the drive for improved environmental outcomes.
The Environmental Group (EGL) last traded at 27.5 cents before market open on March 18.
