In a statement issued Monday, Waste Industries said the contract with Wake County covers 25 years. The landfill is scheduled to open in late 2007.
The Wake County Board of Commissioners voted 5-2 earlier this month in favor of the project and to award the contract to Waste Industries rather than a Tennessee firm.
The landfill will be built on a 471-acre piece of land at Main Street and N.C. Highway 55 in Holly Springs. It will provide solid waste disposal to Wake County residents for 25 years once the current landfill in North Wake County closes in 2008.
Waste Industries estimated that the landfill would produce annualized revenues of $6 million in its first year.
"For over 35 years Waste Industries has provided solid waste collection and disposal services to citizens and businesses in our home of Wake County," said Jim Perry, the company's president and chief executive officer. "We are very pleased that the county leaders selected our company to construct and operate this landfill which we believe will help meet the disposal needs of our growing communities for years to come."
The contract is estimated to be worth more than $173 million over the 25 years, according to The News & Observer. The Tennessee firm, Santek Environmental, submitted a bid that was some $9 million lower.
Waste Industries USA provides collection, transfer, disposal and recycling services in North Carolina, South Carolina, Virginia, Georgia, Tennessee and Mississippi.
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