Cadiz Executes Guaranteed Maximum Price Construction Contracts for Northern Pipeline Project
PR Newswire
LOS ANGELES, July 28, 2026
Guaranteed Maximum Price Contracts Support Project Financing Efforts and Advance Northern Pipeline into the Construction PhaseLOS ANGELES, July 28, 2026 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz" or the "Company") Following federal approval of the right-of-way ("ROW") grant for the Northern Pipeline, Cadiz Inc. (NASDAQ: CDZI) ("Cadiz" or the "Company") today announced that its affiliate Fenner Gap Mutual Water Company ("Fenner Gap"), has executed the principal construction contracts for the Northern Pipeline conversion project ("Northern Pipeline"). The agreements utilize a Construction Manager at Risk ("CMAR") delivery model that establishes guaranteed maximum prices for the Northern Pipeline's principal construction components, including pump stations and pipeline replacement. These contracts, together with contractual pricing for owner-procured equipment and materials, as well as purchase options and supplier quotations for other necessary components establish the estimated capital expenditures required to place the Northern Pipeline into service at approximately $403.3 million.
