Capital City’s $90M infrastructure deal finally approved
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Molpus closes Fund after more than $662M in commitments
- Kemper County plant will cost at least another $496M to complete
- Cochran calls on EPA for review of Yazoo Backwater Project
- State Sen. Gandy hospitalized in South America
- Camgian launches Internet of Things product called Egburt
- After string of losses, O'Hara sees himself as Senate 'protest vote'
- Number of requests for general election absentee ballots roughly same as primary
- Former Mississippi First Lady Carroll Waller dies at 87