Modern Water PLC Gibraltar Planning Office OKs Treatment Plant (0919U)

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RNS Number : 0919U

Modern Water PLC

27 March 2019

Modern Water plc

("Modern Water", "the Company" or "the Group")

Gibraltar planning decision marks next step in project to build the country's sewage treatment plant

 
For immediate release  27 March 2019 
 
 

Modern Water plc, the owner of world-leading technologies for water and wastewater treatment and for water quality monitoring, is pleased to announce that Gibraltar's Development and Planning Commission has considered an application for the building of Gibraltar's first wastewater treatment plant. The Commission approved the Environmental Impact Assessment ("EIA") and the administrative issue of the EIA certificate is to follow. The Commission also made agreed final recommendations for certain visual improvements and general mitigation measures.

This marks a further significant step before building works can begin once the agreement for design, build and operation has been signed between H.M. Government of Gibraltar and the joint venture between Modern Water Services Ltd ("Modern Water") and NWG Commercial Solutions Ltd ("Northumbrian Water").

Modern Water will be carrying out the design and build works on behalf of the joint venture, the cost of which is estimated in the planning application at GBP25m. As previously announced, following a formal tender process, the joint venture between Modern Water and Northumbrian Water was appointed preferred bidder for the project in October 2014 and carried out advance works leading to the submission of planning application in February 2019.

Modern Water is responsible for the design and build portion of the contract. On completion, Northumbrian Water will be responsible for the operation and maintenance of the plant for 20 years. As Gibraltar has the second highest population density in Europe and limited land availability, the plant design will have a small footprint and low power requirements.

Simon Humphrey, Modern Water's CEO, said: "This vital step enables us to focus on concluding the final elements of the main Design, Build and Operate contract. We look forward to starting to build the wastewater treatment plant, which will provide the significant environmental benefits that H.M. Government of Gibraltar is so keen to achieve."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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For further information:

 
Modern Water plc                                            [phone] 
Simon Humphrey, Chief Executive 
 Cairn Financial Advisers LLP (Nominated Adviser)            [phone] 
Sandy Jamieson / Tony Rawlinson 
 Ludovico Lazzaretti 
 Turner Pope Investments (Broker) 
  Andy Thacker                                               [phone] 
 
 

Notes to editors:

Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.

www.modernwater.com

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March 27, 2019 03:00 ET (07:00 GMT)