CET Environmental Services, Inc. Subsidiary Wins Its First U.S. Wastewater Privatization Contract
ENGLEWOOD, Colo., March 4 /PRNewswire/ -- CET Environmental Services, Inc. (Amex: ENV) announced today that its wholly owned subsidiary, Water Quality Management Corporation (WQM), has been awarded a long-term service agreement to provide construction and operation of a municipal wastewater treatment plant for the town of Keystone, South Dakota. This is the first privatization project for WQM in the U.S. and the first privatization of a wastewater treatment plant in the state of South Dakota. Steve Davis, President and Chief Executive Officer, states "We have positioned the Company to be at the forefront of the new privatization market and this is an important first step to realizing that goal."
WQM was awarded the construction, operation, and financing of the Keystone facility after completing the design documents earlier this year. The plant will serve the resort community of Keystone, which is located at the base of Mount Rushmore. Under this contract, valued at $10 million, WQM will construct an extended aeration activated sludge facility, and will be responsible for the first 20 years of operation. Contract provisions have been made to possibly extend the contract term for another 10 years and to expand the treatment system to meet the regional needs of the Keystone/Mount Rushmore area. "Privatization of this plant greatly benefits the town of Keystone," said Rick Tallman, General Manager of WQM. "The town will gain a new state-of-the-art facility that brings it into regulatory compliance without incurring debt or rate increases." |
