George Town, Cayman Islands Consolidated Water Co. Ltd. has announced that the Company has signed a Design, Build and Operate (DBO) contract with the Government of Bermuda for the Tynes Bay Desalination Plant on the north coast of Bermuda.
The project is comprised of a 600,000 US gallon per day (USgpd) seawater desalination plant, a full standby electrical power plant and 1.27 miles of main water delivery pipelines. The production capacity of the plant is designed for expansion to 1.2 million USgpd at a later date.
The contract requires the Company's recently formed affiliate, Consolidated Water (Bermuda) Limited, to construct and commission the plant and pipeline within 11 months and to operate the facility for at least 12 months after commissioning. The Company has entered into agreements to loan its Bermuda affiliate the funds to construct the plant and to manage its operations.
Consolidated Water Co. Ltd. develops and operates seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. The Company currently operates water production and/or distribution facilities in the Cayman Islands, Barbados, Belize and The Commonwealth of the Bahamas. The Company's affiliate, Ocean Conversion (BVI) Ltd., also produces and distributes water in the British Virgin Islands.
The ordinary shares of Consolidated Water Co. Ltd. are traded on the NASDAQ Global Select Market under the symbol "CWCO".
SOURCE: Consolidated Water Co. Ltd.