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Article: Consolidated Water Co. Ltd. Announces Seven-Year Extension of Contract to Operate Red Gate Plant on Grand Cayman Island.
- Article from:
- Science Letter
- Article date:
- September 16, 2008
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Consolidated Water Co. Ltd. (NASDAQ:CWCO) announced that it has been notified by its customer, Water Authority - Cayman, that the Company's contract to operate the Red Gate Seawater Desalination Plant on Grand Cayman Island will be extended for a seven-year period. The extension includes an upgrade of the Red Gate Plant, which was originally constructed in 1989 (see also Consolidated Water Co. Ltd.).
"We are pleased to announce that the Water Authority - Cayman has accepted our proposal to upgrade the Red Gate plant and to operate the plant for a further seven years in exchange for an approximately 20% reduction in the current unit cost of water delivered from ...