Clarifications on the desalination project in Episkopi
Cooperation of the company with Logicom Public Ltd in desalination project in Episkopi
Further to our announcement dated July 21, 2010 on the above subject, and in order to fully inform the shareholders and the investing public in general we wish to inform you:
1.The project involves the design, construction, operation and maintenance of a desalination unit at Episkopi, with a daily capacity of 40,000 cubic meters of water.
2.The Water Development Department will be supplied at least 13.14 million
cubic meters of desalinated water per year at € 0,8725 per cubic meter for 20 years.
3. If asked to inactivate the Unit, the Consortium will be compensated with € 0,3852 for each cubic meter of desalinated water not received.
4. At the end of the agreement ownership of the unit will revert to the WDD,
while the WDD has the option to purchase the unit at any time before the expiration of the Agreement.
5. The cost of project’s construction is estimated at around €50
million. Funding for the project will be made by Consortium’s shareholders' capital and bank lending.
6. Demetra’s investment in the project is expected to range between € 2 - € 2.5 million.
Further to our announcement dated July 21, 2010 on the above subject, and in order to fully inform the shareholders and the investing public in general we wish to inform you:
1.The project involves the design, construction, operation and maintenance of a desalination unit at Episkopi, with a daily capacity of 40,000 cubic meters of water.
2.The Water Development Department will be supplied at least 13.14 million
cubic meters of desalinated water per year at € 0,8725 per cubic meter for 20 years.
3. If asked to inactivate the Unit, the Consortium will be compensated with € 0,3852 for each cubic meter of desalinated water not received.
4. At the end of the agreement ownership of the unit will revert to the WDD,
while the WDD has the option to purchase the unit at any time before the expiration of the Agreement.
5. The cost of project’s construction is estimated at around €50
million. Funding for the project will be made by Consortium’s shareholders' capital and bank lending.
6. Demetra’s investment in the project is expected to range between € 2 - € 2.5 million.
