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Ionics Selected by Algerian Energy Company For 200,000 Cubic Meter Per Day Seawater Desalination Water Supply Contract.

Publication: PR Newswire
Publication Date: 21-OCT-03
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Ionics, Incorporated announced today that on October 18, 2003 the Algerian Energy Company (AEC) publicly declared Ionics as the selected bidder for a twenty- five (25) year seawater desalination build-own-operate (BOO) project. Ionics and AEC will form a joint project company to finance, build and operate the plant, with Ionics owning a majority interest. The projected US$225 million capital investment will be financed by a combination of equity and non- recourse debt. The initial water tariff will be US$0.8182 per cubic meter, subject to adjustment pending completion of debt financing. The...

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