Fluence signs €48m addendum with Ivory Coast for water treatment plant

Fluence Corporation Limited has signed a €48 million addendum to its initial Engineering, Procurement and Construction contract with the Federal Government of Ivory Coast. The Addendum, representing a statutory maximum increase of up to 30% of the initial contract’s value, is aimed at completing the 150,000 m3/day surface-water treatment plant and related civil works in the city of Abidjan. Both parties consider this additional work as a crucial step to ensure the plant’s full and proper operation and the city’s water distribution.

Ensuring Full Operation of Abidjan’s Water Treatment Plant

Tom Pokorsky, Fluence CEO and Managing Director, stated, “Fluence is pleased to secure this Addendum to help the Plant at Lagune D’Aghien reach its full potential and supply the people of Abidjan with much-needed water.” The Addendum work, which includes the dispersion of treated water and other civil works, will be undertaken by Fluence’s existing subcontractor, Laviso. Both the Federal Government of Ivory Coast and Fluence view these works as essential to the successful operation and water distribution of the plant in Abidjan.

Financial Close and Revenue Expectations

Subject to securing financing and receiving a notice to proceed, the effectiveness of the Addendum is contingent upon customary closing conditions. Fluence is in advanced discussions regarding financing arrangements with Société Générale and the West African Development Bank. Once these conditions are met, revenue from the Addendum is expected to be realized over the following 12-18 months.