Mcknight Diversion now in operation, SXI is continually improving its operatations and expanding areas of business, the price of the shares will have begin to reflect this - - Dick Martin
SYNEX INTERNATIONAL INC - McKnight Diversion in Operation [1166]
Canadian Market News from Market News Publishing, Monday, March 16, 1998 at 13:30
Alan W. Stephens, President of Synex International Inc., announces
that the McKnight Diversion is now in operation. The diverted water that is
flowing from McKnight Lake to the adjacent Brown Lake will increase the
average annual revenue of the Brown Lake Hydroelectric Project by $500,000.
The project involved the construction of a 400-metre tunnel and
1,100-metre of polyethylene pipe along a specially constructed pipeline
road. These works were completed ahead of schedule and well under the
budget.
The 7 MW Brown Lake Hydroelectric Plant, located near Prince Rupert,
British Columbia, was commissioned in December 1996. The revenue for the
year ended December 31, 1997 was $2.2 million, which will be increased by
the McKnight Diversion flows. The annual revenue escalates by about 3%
during each year of a 20-year Electricity Purchase Agreement with B.C.
Hydro.
TEL: (604) 688-8271 Alan W. Stephens, President
FAX: (604) 688-1286
EMAIL: sxi@synex.com
Companies or Securities discussed in this article:
Symbol
Name
TSE:SXI
Synex International
BB:SYITF |
