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Cleanaway sell tip sites in Melbourne

Vik Bansal, Clenaaway's CEO, talks about NWRIC

Melbourne-based waste management company Cleanaway has sold two landfill sites in Melbourne’s west for up to $22 million.

In a statement to the Australian Stock Exchange, Cleanaway reported the sales were of their two dormant landfill sites in Brooklyn, sold to specialist developers Pelligra Group.

“These transactions are forecast to generate a pre-tax profit … of approximately $20 to $22 million,” it said.

Pelligra will assume responsibility for remediating and monitoring the sites in Market Road and Old Geelong Road, and has undertaken to cap the sites in line with environmental regulations.

“Based on forecasts, the sales of these closed landfills will reduce spending on landfill rectification and remediation by approximately $20 million over the next six years,” Cleanaway said.

The former tip sites have been dormant for years and had undergone initial remediation works, a spokesman for the company told Fairfax Media.

Pelligra is focused on developing industrial and contaminated sites, having previously redeveloped the heritage former ETA peanut butter factory in Braybrook.

Cleanaway said the sale is expected to be completed by early March.

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