DOMINICA GOVERNMENT GRANTS LICENSE TO SISSEROU WATER INC

Roseau, Dominica – December 15, 2009 ……..In a tangible demonstration of its commitment to carefully utilize Dominica’s water resource for generating income and job opportunities for the people of Dominica, the Government of Dominica has signed a license with Sisserou Water Inc for the export of Dominica’s water.

The signing ceremony, which took place at the Financial Centre last month, was attended by Minister for Public Utilities, Energy and Ports, Hon. Charles Savarin, Permanent Secretary in the Ministry of Energy, Mr. Lucien Blackmoore, a Director of Sisserou Water, Mr. Atherton Martin and General Manager of DOWASCO, Mr. Bernard Etinoff. The license allows Sisserou Water to abstract a maximum of three(3) billion gallons of water, annually for a period of ten(10) years in the first instance with provision for renewal for a further period ten(10) years.

In his address at the ceremony, Hon. Charles Savarin revealed some of the conditions of the license:

·    Sisserou Water shall invest at least US$32 million in the development of its bulk water enterprise.
·    The company shall provide full-time employment for at least eight (8) Dominican nationals at its water extraction and exporting facility at Clyde River and sixteen (16) Dominican nationals on the water vessels contracted to export water from Dominica from the first year of operations.
·    Sisserou Water shall provide at least one(1)full academic scholarship at undergraduate level and/or graduate level in the area of hydrology or in any other water related studies/discipline as recommended by the Authority, at an accredited university for a Dominican national at least every four years for the duration of the license.
·    The company shall within four months of receiving the license , install the required hydrometric equipment based upon best practices for obtaining the average stream flow for guidance on the social, recreational, productive and other economic uses and environmental considerations.

Hon. Savarin underscored the significant economic and social benefits of this investment in Dominica at this time.

“I remain confident that this is a very promising investment proposal which will play a meaningful role in: Employment generation; Job creation; Expansion of our export base; Generation of foreign exchange earnings; Creating training opportunities for nationals and the improvement in the social and economic climate of the local community and our country as a whole.”

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