Fluence Corporation (ASX:FLC) - Transitioning CEO, Henry Charrabé (left)
Transitioning CEO, Henry Charrabé (left)
Source: Perth Now
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  • Water treatment company Fluence (FLC) has been given the green light for a €165 million (around A$275 million) project in Côte d’Ivoire.
  • The formal notice-to-proceed has already been supplied, so Fluence can start work on the Lagune Aghien treatment plant
  • Fluence will build and commission the 150,000-cubic-metre-per-day surface water treatment plant over the next 24 months
  • The plant will clean up algae and other contaminants using a suite of technologies including membrane systems and advanced oxidation
  • Prominent French global infrastructure group, Vinci Construction, has already mobilised to site to begin key work on the project
  • Fluence is up 14.63 per cent, trading for 23.5 cents

Fluence (FLC) has been given the green light for a €165 million (around A$275 million) project in Côte d’Ivoire.

Clear flow

The Israel Discount Bank (IDB) has confirmed that the final conditions precedent have been met, and construction can go ahead on the project.

This also means payments will start to flow to Fluence.

The formal notice-to-proceed has already been supplied, so Fluence can start work on the Lagune Aghien treatment plant.

Lagune Aghien is Côte d’Ivoire’s largest freshwater reserve, and sits nearby the country’s largest city, Abidjan.

Fluence will build and commission the 150,000-cubic-metre-per-day surface water treatment plant over the next 24 months to clean up the algae and other contaminants at Lagune Aghien.

The project will incorporate a raft of proven technologies inncluding smart intake, separation and membrane systems, advanced oxidation, biological filtration and sludge treatment.

The company believes the plant’s advanced design and experienced staff will ensure water quality meets World Health Organisation standards.

Fluence Managing Director and CEO Henry Charrabé said the company is eager to start work.

“Despite challenging logistics and COVID-19 related delays, we are very pleased to have been able to meet this key milestone to progress the Ivory Coast Project and to officially commence construction,” Henry said.

“This is an immensely important project for the people of Ivory Coast, and we look forward to now fully mobilising,” he continued.

Cash flow

The Côte d’Ivoire government finance facility, provided through IDB with
support from the State of Israel export credit agency (ASHRA) and the Italian export credit agency (SACE), is responsible for funding the project.

Now the final green light has been given, money can start to flow to Fluence as per contractual agreements.

Prominent French global infrastructure group, Vinci Construction, has already mobilised to site to begin key work on the project.

Fluence said the Côte d’Ivoire project “provides an excellent reference for Fluence’s technical abilities in water treatment and a strong source of revenue for the next two years.”

Fluence is up 14.63 per cent, trading for 23.5 cents at 10:27am AEDT.

FLC by the numbers
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