SCI

SCI: Developing a new energy-from-waste facility in Teesside in UK, as well as a waste transfer station for $473.5m total cost. The 40:40:20 JV comprising SCI, SITA UK (part of Suez Environment) and Itochu Corp will build, own, operate, transfer the plant for a 30 yr concession. Plant will have 49 MW capacity or 190 tons per hr of steam, using municipal and commercial waste, when operational in 2016. The waste will be supplied by Merseyside and Halton Waste Partnership under a 30 yr contract. SCI's equity investment is £21.9m. On its last results, SCI stated that the utilities segment should see a higher contribution to its earnings going forward. SCI trades at 11.6x trailing P/E, 1.9x P/B;