Last night, the San Antonio Water System (SAWS) held the first of four public meeting on the changes to the 142 -mile Vista Ridge Pipeline. The $3.4 billion deal, which covers 50,000 acre feet of water per year for 30 years, will have a change in ownership.
Spanish Conglomerate Abengoa, struggling to pay its debts, had to sell 80 percent of its position in the deal. Garney Construction, which has worked with SAWS on several projects, has been selected as the company that will step in.
In its presentation, which you can find here, SAWS explained what steps come next in the project with Garney stepping in. The presentation, which TPR’s Shelley Kofler covered here, didn’t address the $885 million dollar loan that the project failed to get from the Texas Water Development Board. $885 million was the projected total cost of building the pipeline… Read more from TPR