Consolidated Water Co. Awarded Contract to Build New Seawater Desalination Plant in Cayman Islands
GEORGE TOWN, Cayman Islands, July 10 /PRNewswire-FirstCall/ — Consolidated Water Co. Ltd. today announced that the Cayman Islands Government has awarded the Company a ten-year Design-Build-Own-Operate-Transfer contract for a seawater desalination plant on Frank Sound on Grand Cayman Island.
The design capacity of the new plant will be 2.38 million US gallons of water per day (USgpd), and the Company will guarantee under the contract the delivery of 2.14 million USgpd to its customer, the Water Authority of the Cayman Islands.
Fresh drinking (potable) water will be produced from salt water wells via two electrically driven Sea Water Reverse Osmosis (“RO”) units utilizing the Calder DWEER(R) energy recovery device for optimum operating efficiency. The plant will also include a partial second-stage brackish water desalination unit to meet applicable quality standards.
“We anticipate that construction of the Frank Sound plant will be completed in approximately twelve months. At that time, Consolidated will be operating 7 seawater desalination plants on Grand Cayman Island,” stated Rick McTaggart, Chief Executive Officer of Consolidated Water Co. Ltd. “The new plant will expand our total production capacity in the Cayman Islands by approximately 35% to approximately 9.0 million US gallons of water per day.”
About Consolidated Water Co. Ltd.
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 Company is currently constructing a seawater desalination plant in Bermuda.
The ordinary (common) shares of Consolidated Water Co. Ltd. are traded on the NASDAQ Global Select Market under the symbol “CWCO”. Additional information on the Company is available on its website at http://www.cwco.com/.
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,”"estimate,”"project,”"intend,”"expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company’s products and services in the marketplace, changes in its relationship with the Governments of the jurisdictions in which it operates, delays in construction of new plant facilities, the ability to successfully secure contracts for water projects in other countries, the ability to develop and operate such projects profitably and the Company’s ability to manage growth and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact:
Frederick W. McTaggart, President and CEO, or David W. Sasnett, Executive Vice
President and CFO, at (345) 945-4277 or via e-mail at info@cwco.com http://www.cwco.com/ or
RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or
via e-mail at info@rjfalkner.com
Consolidated Water Co. Ltd.
CONTACT: Frederick W. McTaggart, President and CEO, or David W. Sasnett,Executive Vice President and CFO, +1-345-945-4277, info@cwco.com, both ofConsolidated Water Co. Ltd.; or Investor Relations Counsel of RJ Falkner &Company, Inc., 1-800-377-9893, info@rjfalkner.com, for Consolidated Water Co.Ltd.
Web site: http://www.cwco.com/