LONDON (Thomson Financial) - Property Recycling Group, a company which
acquires and prepares brownfield sites for development, said it has granted ECO2
North Lincs Ltd an option over five hectares on its 50 hectare site at Brigg,
Lincolnshire, for 2 mln stg.
Under the terms of the agreement, ECO2 has paid an up-front fee for an
option for 36 months to purchase the land for development of a biomass power
station.
The company said if planning appeals are necessary and in progress when the
option period expires the option may be extended for six months on payment of a
further fee. If approved and accepted by ECO2, they must exercise the option
within 6 weeks.
TFN.newsdesk@thomson.com
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