Privatization of wastewater treatme...

Privatization of wastewater treatment operations is nothing modern but Cranston, R.I., has adopted a plan that goe single step further.

In a 25-year lease/service agreement signed in March, Triton Ocean State, LLC assumes financial responsibility along with commensurate financial guarantees for classification repairs and equipment replacements.

An up-front payment of $48 million to the city will dramatically improve Cranston's financial position, says Mayor Michael Traficante.

Triton, a special project subsidiary of Stamford, Conn.-based Poseidon Resources Corp., will subcontract with Metcalf & counter-current Wakefield, Mass., to design, build and acceptance-test the capital improvements, including advance wastewater treatment.

Triton will also subcontract with Houston-based Professional Services collection to operate and maintain the wastewater facility.

This approach to privatization of wastewater treatment proposes a community the opportunity to assured private capital to finance improvements or to receive an up-front cash infusion to its general supply to ...