Consolidated Water Co. said Monday that it has won a bid for the privatization of water utilities in parts of the Turks and Caicos Islands.
The company will be responsible for producing potable water from seawater, distributing it to residential and commercial customers, and billing and collections on Grand Turk, Salt Cay and South Caicos islands.
In addition, the company will have the right to establish retail water operations on North and Middle Caicos islands.
Water on the Providenciales and West Caicos islands will be provided by other parties.
"Our entry into the Turks and Caicos Islands will expand to six the number of countries in which Consolidated Water is producing potable water from seawater using reverse osmosis technology," Rick McTaggart, chief executive of Consolidated Water, said in a release.
The contract between the company and the islands _ technically a British Overseas Territory _ still needs to be finalized, Consolidated Water said. Financial terms of the bid were not disclosed.
Consolidated Water's rights, under the terms of the bid, are "perpetually renewing," subject to a quality and compliance review every five years.
Shares of Consolidated Water fell 13 cents to $16.22 in early afternoon trading.
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