Cadiz Inc. announced recently that the U.S. Department of the Interior has approved the Final Environmental Impact Statement for its Cadiz Groundwater Storage and Dry-Year Supply Program and issued its Record of Decision (ROD).
The company said the decisions marks the final step in the federal environmental review process for the Cadiz Program, a public/private partnership between Cadiz and the Metropolitan Water District of Southern California.
"Issuance of the ROD culminates many years of diligent work and tireless cooperative effort by the federal agencies, Metropolitan, the County of San Bernardino, and Cadiz on this important water program for Southern California's future," said Keith Brackpool, Cadiz Chairman and Chief Executive Officer. "Through this collaborative process, we are proud to have developed an environmental protection plan unrivaled within California's water industry."
Meanwhile Wall Street analysts predicted that Interior's decision bodes well for the ultimate success of the project, despite some vehement political opposition from Sen. Diane Feinstein (D-CA), who said she had environmental concerns.
"Incorporating review and approval from various federal and state agencies, the ROD will establish the management plan for the project going forward," said Debra Coy, a water analyst with Schwab Capital Markets LP.
Cadiz said the issuance of the ROD completes a comprehensive federal environmental review process by the Bureau of Land Management (BLM) in cooperation with the U.S. Geological Survey (USGS) and National Park Service (NPS) and affirms the environmental soundness and technical viability of the Cadiz Program.
