When the money runs out, what to do?
Posted On July 12, 2021
The Glenhaven-based company that owns Glenhaven’s mineral water plant is in talks with the New Brunswick government about selling its water assets.
Glenhaven Water is owned by the New York-based firm Fluor, which operates in New York, Pennsylvania, Illinois, Maryland, Ohio and Michigan.
The New Brunswick Government said the company is negotiating with the province over a possible sale of its water.
The company’s chairman said Fluor wants to see a return to a long-term, sustainable, long-range partnership.
Fluor’s managing director said a deal is not imminent.
A spokeswoman for Premier Mike de Jong said Fluors management is working with the government and the New Jersey-based utility, but he would not say when the talks are expected to conclude.
The company also said it is “actively reviewing” potential investment opportunities.
The province is facing a water shortage and has announced a series of measures aimed at addressing water-related issues, including a $500 million plan to address the water crisis.
It said in April it is considering an additional $1 billion in water-use incentives to fund the project.
The provincial government also announced a $15 million grant program to assist water providers and other businesses in helping the province’s customers get the best possible water for their needs.
In a statement, Fluor said it wants to build a long, sustainable partnership with the provincial government and would work closely with the Ministry of Environment and Natural Resources (MENR) to make sure we meet the needs of our customers.