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24 October 2006 -- Sub-Surface Waste Management of Delaware, Inc. announced that the Mexican Federal Electricity Commission (CFE) has authorized an additional $2.9 million budget for the cleanup of two additional electric generating plants located in Merida, Yucatan and Lerma located in the state of Campeche. According to Sub-Surface Waste Management, the plants use hydrocarbon fuel sources that have caused significant contamination at the sites.
SSWM Mexico subsidiary company, Environmental Tec International, S.A. de C.V. (ETI) will enter into a subcontract agreement with the National Autonomous University of Mexico (UNAM) to perform the work expected to start before the end of the year.
CFE has previously authorized ETI and UNAM $3.989 million in cleanup projects at generating plans in Nachi Cocom in the Yucatan and at Francisco Villa in the state of Chihuahua in order to meet compliance requirements from PROFEPA, the environmental policy enforcement regulatory agency of Mexico's Secretary of the Environment (SEMARNAT). CFE has five major electric generating plants using hydrocarbon fuel sources that have caused significant contamination at the sites.
Bruce Beattie, CEO of SSWM, said, "Many shareholders have asked us the significance of a government authorization. A written authorization from a government agency signifies that the funds have been allocated in their annual budget for the specific project and the authorization is the commitment to proceed with the work under the terms of a negotiated contract between the parties. Authorizations are typically signed by a government official of the department that has the budget for the project.
"In some cases ETI provides the contract proposal and the government entity authorizes all or a portion of the proposal and in other cases, the government entity already has a project and a budget which ETI reviews and accepts the authorization. The authorization is the first step prior to contract signing and signifies the availability of funds for a project as well as the government's proactive commitment to cleaning up the environment."
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