| Cayman Islands & Bermuda. Consolidated Water Co. wins bid for Tynes Bay Seawater Desalination Plant |
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| Tuesday, 03 October 2006 | |
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Company news: Consolidated Water Co. Ltd. (NASDAQ:CWCO) , which develops and operates seawater desalination plants and water distribution systems in areas where naturally occurring supplies of potable water are scarce or nonexistent, today announced that it has been advised by the Government of Bermuda that the Company has been successful in its Design, Build and Operate (DBO) bid 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 definitive contract, which has yet to be negotiated by the parties, will require the Company's recently formed affiliate, Consolidated Water (Bermuda) Limited, to construct and commission the plant and pipeline within 12 months and to operate the plant for at least 12 months after commissioning. The Company intends to loan its Bermuda affiliate the funds to construct the plant and will enter into a contract with the affiliate to manage its operations. "We are very pleased to have been selected by the Government of Bermuda for this project, which will expand to six the number of countries where Consolidated is producing potable or non-potable water from the sea," stated Rick McTaggart, Chief Executive Officer of Consolidated Water Co. Ltd. "While the initial operating contract for Tynes Bay will cover a period of only 12 months following the plant's commissioning, we are optimistic that our operation of the plant with experienced personnel will lead to an expanded relationship with the Government of Bermuda." Consolidated Water Co. Ltd. is engaged in the development and operation of seawater desalination plants and water distribution systems in areas of the world where naturally occurring supplies of potable water are scarce or nonexistent. Consolidated currently operates water production and/or distribution facilities in the Cayman Islands, The British Virgin Islands, Barbados, Belize and The Commonwealth of the Bahamas. The Company has also received a contract to build and operate a seawater desalination plant in Bermuda. |
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| Last Updated ( Tuesday, 03 October 2006 ) |
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