Dhanoa Minerals Ltd Signs Letter of Intent for Majority Interest of Desalination Project in Republic of Guinea
January 26, 2012 at 11:27 pm IST
Dhanoa Minerals Ltd. signed a Letter Of Intent (L.O.I.) with Vision Energy Corp. to acquire 75% majority interest, of Vision Energy's share of a major desalination project in the Republic of Guinea in West Africa. Dhanoa's interest will include the rights, entitlements and benefits of Vision Energy in the desalination project. Vision Energy has an agreement with Sofitrad SA of Brazzaville, Republique of Congo, to construct and operate a Desalination Plant located in the Republique of Guinea which will produce 5 million gallons per day of potable fresh water from seawater. The Agreement calls for Sofitrad to provide the $20 million funding Guarantee for the project and the Take or Pay contract for the entire plant production.