Capital City’s $90M infrastructure deal finally approved
by Associated Press
Published: April 2,2013
JACKSON — After months of negotiations, the city of Jackson’s $90-million infrastructure deal with Siemens has cleared its final hurdle.
The Clarion-Ledger reports the Mississippi Development Authority has approved the project, which will use promises of future savings to upgrade the city’s two water plants, install new meters and repair or replace around two miles of sewer lines.
The project was created under a process known as energy performance contracting.
The general contractor, Siemens, guarantees that by making certain improvements, a government agency will save enough money on things like electricity and manpower over the course of 15 years to pay off the cost of the work, plus interest.
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