Pure close to $30M deal on Libyan irrigation project

Pure Technologies Ltd. (TSXV:PUR) announced Monday is is close to a $30-million-plus deal to sell a pipeline monitoring system to Libya’s Great Man-Made River Authority.

Pure Technologies Ltd. (TSXV:PUR) announced Monday is is close to a $30-million-plus deal to sell a pipeline monitoring system to Libya’s Great Man-Made River Authority. Pure said it has received a letter of intent from the authority and expects the deal to go ahead pending completion of “the normal review process and final documentation.” Under the proposal, Pure will supply its patented SoundPrint AFO fibre-optic monitoring system, capable of monitoring up to 960 kilometres of the authority’s pre-stressed concrete pipeline transmission network.

The authority is currently monitoring approximately 350 kilometres of the network following a contract awarded to Pure in September 2007.

Equipment deliveries are commence prior to current year-end and are expected to continue through 2011, Pure said in a news release. The Great Man-Made River is a huge network of pipes that distributes water from the Nubian Sandstone Aquifer System fossil aquifer.