It’s planned that 51,000 domestic and commercial bins are purchased through ‘prudential borrowing’ - borrowing according to Chartered Institute of Public Finance and Accountancy guidelines - at a rate of 17,000 per year.
Estimates are that around 16,000 large 240-litre bins and 1,000 small 140-litre bins, new and replacements, will be required each year to meet the council’s statutory requirement to provide waste collection services.
Planned development, according to a report, will bring a need for around 5,000 new bins - grey, green, blue and brown - at a cost of around £75,000 each year.
However, developers are charged a delivery fee of £99 for each set of four bins - leading to a yearly income of £124,000.
The plans were approved by cabinet members on Wednesday.
The council’s commercial services team receives around 280 orders for new and replacement bins every week.
Last year, 17,930 bins cost a total £328,402, the highest amount over the last three years.