Mexico Federal Electricity Commission Authorizes $2.2MM Project for SSWM Subsidiary and UNAM
Thursday October 19, 10:00 am ET
ETI Second Project for Electric Utility
CARLSBAD, Calif.--(BUSINESS WIRE)--Sub-Surface Waste Management of Delaware, Inc. (OTCBB:SSWM - News) announced that the Federal Electricity Commission (C.F.E.) recently authorized a $2.2MM USD budget for the cleanup of its Francisco Villa electric generating plant in the State of Chihuahua, Mexico. SSWM Mexico subsidiary company, Environmental Tec International, S.A. de C.V. (ETI) will enter into a subcontract agreement with the National Autonomous University of Mexico (UNAM) to perform the work expected to start before the end of the year.
Comision Federal de Electricidad (CFE) provides electricity for nearly 22 million customers throughout Mexico (excluding Mexico City). The state-owned company has more than 150 power plants of various types, including thermal, nuclear, hydroelectric, and alternative energy facilities. Approximately fifty percent of the power generated uses hydrocarbons including fuel oil, natural gas and diesel as a fuel source. With a mission to protect the environment, CFE deserves recognition for undertaking a positive and committed initiative as a lead Federal entity to address historic pollution cleanup at its facilities and comply with the environmental regulations promulgated by the Mexican Republic.
Bruce Beattie, CEO of SSWM, stated, "We are pleased to have another CFE generating plant project authorized for cleanup of hydrocarbon contaminants by ETI and UNAM. Now that the budget authorization has been made we will work diligently to finalize the operating contract for the cleanup with CFE, ETI and UNAM so that we can begin the project before the end of the year. As with our other CFE contracts, the ETI subcontract amount is subject to negotiation and project tasks, but ETI generally receives 70-75% of the authorized budget for the project and this amount is subject to increase due to engineering change orders after the project is commenced based upon final actual volumes of materials to be treated." |
