Construction Company Seeking Management Stake Of Vista Ridge Pipeline
Garney Construction is set to take over the building and financing of the embattled 142-mile Vista Ridge Pipeline.
The pipeline would bring water from Burleson County into San Antonio. Garney could take 80 percent of the financial responsibility in the project but 100 percent of the control.
San Antonio Water System CEO Robert Puente says SAWS will still have some oversight in the project.
“We have a lot of oversight. In other words, part of the contract is that we get to see, we get to be involved, in the construction, as for inspecting the material, the workmanship,” he added. “ All during the process we will be there overseeing the project. We are ultimately the owner of the project so we get to see what’s going on.”
The original majority financier of the project, Abengoa, will still own 20 percent.
“The 20 percent is a silent partnership by Abengoa,” Puente said.
Garney was one of the original partners in the contract. It would invest $55 million of its own money into the project if it gets the majority stake. It would also seek an $800 million loan from banks.
SAWS will hold several community meetings in the coming weeks. The next will be at 9 a.m. Thursday during the regularly scheduled City Council meeting at Municipal Plaza.
Another community meeting is scheduled for 6 p.m. April 12 at the SAWS Headquarters board room; and one is planned for late April or May 3. The date and time will be confirmed at a later time.