TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Augusta Industries Inc. (TSX VENTURE:AAO) (the "Corporation") is pleased to provide an update on the Trans Africa Pipeline ("T.A.P.") group project pertaining to the construction of a fresh water pipeline, associated solar power plants and desalination of sea water facilities to move potable water from the coast of Mauritania, as previously announced in its press release of June 1st 2016.
On October 24th Trans Africa Pipeline Inc. (TAP) hosted a meeting in Toronto with the Delegation of the Ministry of Foreign Affairs & Cooperation of Mauritania, responsible for Maghrebian and African Affairs and Expatriate Mauritanians, Her Excellency Mdm. Khadijetou Mbareck Fall.
Discussions included but was not limited to TAP's progress and the review of how the Mauritanian government can collaborate to implement TAP as soon as possible. TAP has established an office in Nouakchott to liaise with the government.
TAP will be negotiating MOUs with Sudan in early next year to start construction of the desalination plant on the Red Sea coast. Further MOU negotiations will take place next year with Djibouti and Senegal to discuss building the other two desalination plants. TAP plans to have 4 desalination plants with supporting infrastructure, two on each coast, to provide 800,000 cubic meters of water per day when TAP is fully operational.
The Corporation, thru its wholly-owned subsidiary, FOX-TEK Canada Inc., intends to submit a proposal to T.A.P. based on the specifications provided by the contractor and will collaborate with the Project design company with respect to the monitoring of the pipeline.
The Corporation will be providing T.A.P. with non-intrusive sensing equipment which will verify the integrity of the pipeline composite at key locations. In addition to the non-intrusive sensing equipment will provide a number of optical based sensing technologies which would allow T.A.P. to monitor the right of way zones from possible third-party intrusions.
"The Corporation is very excited to be considered for such large scale projects," said Allen Lone, President of the Corporation. "The Corporation is looking forward to partnering with T.A.P. and being able to provide T.A.P. with the technologies and solutions."
TAP is a Toronto-based not-for-profit organization (http://transafricapipeline.org) which has worked for over 10 years on the design and plans for implementation of an 8,000 km water pipeline across the Sahel Region of Africa. The TAP desalinated sea water through the pipeline will permanently solve the drought crisis across this regional part of the African continent.
About the Corporation:
Through its wholly owned subsidiaries, Marcon International Inc. ("Marcon") and FOX-TEK, the Corporation provides a variety of services and products to a number of clients.
Marcon is an industrial supply contractor servicing the energy sector and a number of US Government entities. Marcon's principal business is the sale and distribution of industrial parts and equipment (Electrical, mechanical and Instrumentation.) In addition to departments and agencies of the U.S. Government, Marcon's major clients include International (Oil & Gas, Refining and Petrochemical Plants).
FOX-TEK develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation's FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Augusta Industries Inc.
Tel: (905) 275-8111 Ext 226