With the acquisition of APSA, we will own and operate a 20 MGD (millions of gallons per day) conventional water treatment plant, intake pump station and raw water and distribution pipelines. The plant began operations in 2002, and under a thirty year concession contract with Insitituto de Acueductos y Alcantarillados Nacionales (IDAAN), the national water company of Panama, the plant extracts water from Lake Gatun, treats the water, then transports and delivers potable water to Nuevo Chorillo, approximately 12 miles from Panama City. The plant serves the Arraijan District with a population of approximately 420,000 residents.
Olaf N. Krohg, CEO of Seven Seas Water, commented: “We are very pleased to complete this transaction to add to our Latin American portfolio. We are looking forward to establishing ourselves in Panama and explore how we may be able to expand our role in serving the country’s water needs.”
About Seven Seas Water
Seven Seas Water offers WaaS® solutions by providing outsourced water treatment, wastewater treatment and reuse solutions for governmental, municipal, industrial, property developer and hospitality customers. Our water treatment solutions utilize seawater reverse osmosis and other purification technologies to produce potable and high purity industrial process water in high volumes for customers operating in regions with limited access to potable water. Our wastewater treatment and reuse solutions include scalable modular treatment plants, field-erected treatment plants and temporary bypass plants that are used by our customers to treat and convert wastewater into effluent or reclaimed water prior to being released back into the environment. Some of our wastewater and reuse solutions are provided by AUC Group, our Houston, TX based subsidiary. Seven Seas Water is a portfolio company owned by investment funds managed by Morgan Stanley Infrastructure Partners.
About Morgan Stanley Infrastructure Partners
Morgan Stanley Infrastructure Partners is a leading global infrastructure investment platform. Founded in 2006, MSIP has made 30 investments across three global funds with more than $13 billion in capital commitments, and most recently raised $5.5 billion for its third global infrastructure fund. For further information about Morgan Stanley Infrastructure Partners, please visit www.morganstanley.com/im/infrastructurepartners.
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