A SPECIALIST Newry-based civil engineering contractor has secured a new contract to deliver Southern Water’s £30 million Victorian sewer rehabilitation project at Thanet in south-east England.
Terra Solutions, which has been trading since 2008, has entered into a new joint venture TPMD.
Made up of Terra Solutions, Pfeiffer GmbH and Matt Durbin Associates, it will deliver phase two of the major infrastructural project which aims to repair and reline the century-old network.
The Ulster Bank-supported company began work on the contract in July this year. Relining works are due to commence in the coming weeks with the contract anticipated to complete in spring 2020.
Terra Solutions is receiving additional support from Lombard, providers of asset finance, to fund the development of specialised lining equipment to fulfil the contract.
The company's managing director Barry McAllister said: “We’re investing heavily in our sewer rehabilitation lining division as more and more contracts necessitate the latest techniques and technological advances. We’re now a registered Thames Water framework contractor, which is important as we continue to grow our presence in southern England.”
He added: “We’ve worked closely with Ulster Bank over the past decade. They have provided us with the working capital that has enabled us to successfully tender for and deliver major contracts throughout the UK and Ireland.
"This latest contract with Southern Water incurs substantial turnover in an 18-month period, and the working capital allows us to invest in the right facilities, equipment and people to successfully deliver the contract.”
Ulster Bank's Caroline McKeown said: “Terra Solutions has established itself as a leading-edge specialist contractor with a proven track record for delivering large-scale infrastructure and rehabilitation projects. We are pleased to support it to deliver this latest contract with Southern Water, one of many substantial public and private sector projects we have provided working capital for in recent years.”
