The San Antonio Water System’s Vista Ridge pipeline project is still moving ahead, despite concerns over a $120 million loan, litigation between water suppliers and a challenge to rate increases from customers outside the city limits.
Garney Construction, a company interested in purchasing a controlling share in the 142-mile pipeline project, spent part of this week in New York City negotiating with a group of international banks, SAWS President and CEO Robert Puente said.
Garney, based in Kansas City, is interested in borrowing roughly $800 million from Sumitomo Mitsui Banking Corp., Société Générale, Royal Bank of Canada and Santander to finance construction of the pipeline, which would deliver up to 16.3 billion gallons per year from Burleson County… Read more from SA Express-News