Issue - meetings

To receive a verbal update on the North Wales Waste Project.

That the update be noted.

The Chief Executive reminded Members of the background to the regional partnership project involving the five Councils overseen by the Joint Committee.  Following Welsh Government approval of the final business case, the five Authorities would receive a 25% subsidy of around £140m over the 25 year life of the project.  Negotiations with Wheelabrator were expected to be finalised at the end of July, followed by financial closing and contract sign-off by early Autumn.  Operations were due to start in 2018/19 as projected and there was no expectation for an increase in the gate fee.

In response to a question from Councillor Kevin Jones, the Chief Executive explained the need for borrowing and for potential variations in the gate fee if there were changes to the exchange rate.  However, the economic forecast indicated that the partnership would still benefit should there be a temporary change in the exchange rate.

RESOLVED:

That the update be noted.