Consolidated Water (CWCO) Receives 7-Yr Extension of Contract to Operate Red Gate Plant on Grand Caymen Island

September 2, 2008 1:28 PM EDT

Consolidated Water Co. Ltd. (Nasdaq: CWCO) today announced that it has been notified by its customer, Water Authority - Cayman, that the Company's contract to operate the Red Gate Seawater Desalination Plant on Grand Cayman Island will be extended for a seven-year period. The extension includes an upgrade of the Red Gate Plant.

According to Rick McTaggart, CEO of Consolidated Water, "Under the terms of the new agreement, our Ocean Conversion Limited subsidiary will make capital improvements to the Red Gate Plant in order to extend the useful life of the plant for at least a further seven years. The Red Gate Plant, with a production capacity of approximately 1.3 million US gallons of potable water per day, is one of three plants we presently operate for Water Authority - Cayman, and we are currently constructing a fourth plant with a production capacity of 2.4 million US gallons per day which is expected to be operational in early 2009."

Consolidated Water Co., Ltd. engages in the development and operation of seawater desalination plants and water distribution systems in the Cayman Islands, Belize, the British Virgin Islands, and The Bahamas.

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