Waste and recycling firm Viridor has signed a public private partnership with Peterborough City Council to treat the authority’s residual waste.

The 30-year deal will see the development of an energy-from-waste facility at the council’s existing recycling site at the Fengate industrial area.

The project will require capital investment of approximately £75m and the plant will be built by a joint venture between Babcock & Wilcox Vølund and Interserve Construction.

Viridor expects to make money from the deal within the first year of operation.

Last year the own-account operator snapped up JWT Holdings for £7.6m.