Daily Business Report — Dec. 26, 2012
Funding Completed to Start Construction of
the Long-Delayed Carlsbad Desalination Project
With financing in place, construction of the long-delayed $922 million Carlsbad Desalination Plant will start immediately, with commercial operations beginning in 2016, according to Poseidon Resources and the San Diego County Water Authority. A joint venture group will design, construct and start operations at the plant, and construct a 10-mile pipeline that will deliver the 50 million gallons per day of treated water into San Diego County’s water system. Kiewit Shea Desalination, a joint venture between subsidiaries of Kiewit Corp. and J.F. Shea Construction Inc., will provide engineering, procurement and construction services for the desalination plant and the pipeline. IDE Americas Inc., a subsidiary of IDE Technologies LTD, will design the seawater process plant under the direction of Kiewit Shea Desalination. IDE also will be responsible for the operation and maintenance under a 30-year contract. The signing of contracts coincided with the close of the sale of $734 million in tax-exempt bonds issued by the California Pollution Control Financing Authority on behalf of Poseidon and the San Diego County Water Authority. Private equity investor Stonepeak Infrastructure Partners provided the remainder of the $922 million project capital. More than a dozen legal challenges to the plant, including seven lawsuits, had been filed against the project. None were successful.
Economists to Appear at American Economic Association Meeting
Twelve economists with the Consortium on Financial Systems and Poverty are scheduled to give talks at the annual meeting of the American Economic Association in San Diego on Jan. 4-6. Last year 10 economists spoke at the conference. The annual AEA conference is designed to help mid-career economists and is tailored primarily to faculty at liberal arts colleges and teaching-oriented state universities. The lecturers are leading scholars whose focus is on content to help improve teaching and research. The three topics for the January 2013 conference are Labor Economics, Public Finance and Time-series Econometrics. Most presentations will be at the Manchester Grand Hyatt.
Consultant to Address NAWBO San Diego
Katy Goshtasbi, owner and president of Puris Image and a national business consultant, will address the National Association of Women Business Owners San Diego on Jan. 16 at the Hera Hub-Mission Valley, 8885 Rio San Diego Drive, No. 237. The meeting is at 8 a.m. Her topic will be how to increase business through marketing. She says building a successful personal brand can help increase revenue, productivity and motivate employees. Her book, “Personal Branding In One-Hour For Attorneys” published by the American Bar Association, is set to come out summer of 2013.
The Daily Business Report is produced by SD METRO. Contact: Manny Cruz (619) 287-1865. manny@sandiegometro.com.
