EUR16m investment in Quinn SRF project

Aventas Group, formerly Quinn Manufacturing Group, is to invest EUR16m in an alternative fuels project at its Quinn Cement plant in Ireland.

Aventas said it is to convert the 1.4Mta Ballyconnell plant to use solid recovered fuel (SRF) so it can reduce reliance on more expensive high-quality South African coal. According to plant manager, Barry King, the project will reduce carbon emissions by about 20 per cent.

Aventas Group chief executive, Paul O'Brien said: "This is the first significant investment in our cement business for many years and it reflects our confidence in the business and our determination to grow it.

The project is expected to create around 100 jobs and be completed by summer 2014. PJ Carey Contractors has been announced as main contractor.
 
The investment is part of an overall spend of between EUR30m and EUR50m which Aventas plans to make in upgrading and maintaining the plant over the next five years.

Aventas is 75 per cent owned by its former creditors – mainly banks and hedge funds – with the remainder held by its principal former lender, Irish Bank Resolution Corporation.