NASSAU, Bahamas, Feb. 17, 2012 /CNW/ -
Within five years, savings of more than three million gallons of fresh
Miya, a wholly owned subsidiary of Arison Investments, has been awarded
a contract by the Water and Sewerage Corporation (WSC) to maximize the
efficiency of its water systems. The contract value is estimated at $83
million, comprising $59 million in fixed fees and the balance in
performance fees over a ten year period.
(Photo: http://www.newscom.com/cgi-bin/prnh/20120217/511366 )
The Water and Sewerage Corporation supplies drinking water to some
250,000 residents. The 10-year project will be carried out in New
Providence, the most populated island in the Bahamas. It focuses on
improving local water distribution utilities to substantially reduce
leakage of potable water, currently estimated at 50%. Within five
years, over half of the current leakage will be reduced, to deliver
estimated daily savings of more than three million gallons of fresh
water and these savings will then be maintained over the remaining five
years to ensure that the financial benefits of reduction are realized.
Efrat Peled, Arison Investments Chairman and CEO: "More than a third of
the world's drinking water supply is lost from municipal distribution
systems before it reaches consumers. Helping to maximize the efficiency
of the Bahamas water system will greatly improve the supply of water to
the island's residents, contribute to strengthening the water
corporation's financial situation and reduce energy consumption related
to the production and distribution of urban water."
The project includes a comprehensive suite of water efficiency
solutions, incorporating strategic and financial planning, based on
local audits of Non Revenue Water (NRW). This will be followed by a
water infrastructure improvement phase devised specifically for the
island, including the monitoring of water pressure, locating leaks,
repairing or replacing selective pipes, overseeing the project using an
advanced management information system and ultimately turning over the
knowledge to the Water and Sewerage Corporation staff. Miya will
selectively employ local staff and contractors to execute the work. In
cooperation with the Bahamian government, and as a contribution to the
community, Miya will run a water efficiency education program in local
schools, including implementation of water conservation measures.
"The reduction of Non Revenue Water is a priority in WSC achieving
financial and operational sustainability especially since over 90% of
our water comes from desalination," said Glen Laville, General Manger
of the Water and Sewerage Corporation (Bahamas). "We wanted to engage
industry-leading professionals and ensure there were incentives for
rapid results and 'over-achieving' of targets. Hence the significant
performance-based component and the contract award to Miya who will be
bringing world class experience," Glen Laville continued.
Some financing for the implementation phase is provided by the
Inter-America Development Bank (IDB) as part of its $81M WSC support
program approved last November.
"Miya is proud to launch this breakthrough project. After winning the
technical phase of the tender we managed to build, together with the
Water and Sewerage Corporation, a mutually beneficial commercial
framework. The unique financial structure sets a great example for
other water utilities in the region that experience high levels of
water loss," said Amit Horman, Miya CEO.
Miya is a global provider of comprehensive urban water efficiency
solutions, including Non-Revenue Water (NRW) reduction. Miya is a
wholly owned subsidiary of Arison Investments, founded by the visionary
business woman and philanthropist Shari Arison, ranked by Forbes
Magazine as the World's second Greenest Billionaire.
Miya holds vast experience in implementing water efficiency projects
around the globe, particularly in Brazil, South Africa, Canada and the
Philippines. These projects have proven to not only improve the
financial situation of the water utility, but also improve customer
service levels, reduce energy consumption and lower contamination and
For further information, please visit: http://www.miya-water.com/our-experience/case-studies
About Arison Investments
Arison Investments, headed by Chairman and CEO Efrat Peled, is a
world-class privately owned investment company and the business arm of
Arison, a global business and philanthropic group. Arison Investments
manages a portfolio of international investments valued at over $2.5
billion. Operating in 38 countries over 5 continents, it operates to
provide responses to basic human needs of large populations in the
areas of finance, infrastructure, alternative and renewable energy and
Arison Investments vision views the impact of any investment as
paramount and must enhance the quality of life and preserve the natural
environment, while delivering a solid financial performance.
Investments focus on long term partnerships where values of
sustainability drive profits.
For further information, please visit: http://www.arison.co.il/Investments/en/
SOURCE Miya and Arison Investments
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