The Financial Post reports in its Saturday edition that recently the financing details of the Saint John Safe Clean Drinking Water Project were released. The Post's Barry Critchley, writing in Off the Record, says the project will cost $216.8-million and be carried out as a public-private partnership. An entity known as Port City Water Partners have come together to design, build, finance, operate and maintain the project that has an "expected substantial completion date," of the end of 2018. The project has three equity sponsors, Brookfield Asset Management, Spain's Acciona Group of Companies and Edmonton's North American Construction. Those three have kicked in $10.7-million for a respective 50-per-cent, 40-per-cent and 10-per-cent interest. The project runs for 33 years. Mr. Critchley says that apart from the equity contribution, Port City Water Partners has borrowed $116.6-million by way of a revolving bank loan (provided by Sumitomo Mitsui Banking Corp. at an "all-in" rate of 1.559 per cent) that will be used during the construction period and fully repaid by the substantial completion date. The partnership also has a $25.4-million long-term amortizing bond that will be issued at financial close.