Sherritt brings forward Boca de Jaruco project start date

- Wednesday, February 23, 2011

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The 150MW Boca de Jaruco combined cycle project in Cuba is expected to be operational in the first quarter of 2013, according to Sherritt's (TSX: S) MD&A for the year ended December 31, 2010.

The Canadian company had set 2014 as the target completion date.

Project activity accelerated following an internal review, said Sherritt, which operates in Cuba through JV Energas, which runs the Boca de Jaruco, Puerto Escondido and Varadero plants that total 376MW.

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The company's 2011 projected capex is Cdn$158mn (US$159mn), Cdn$143mn of which will go to the Boca project.

This year's production is due to reach 1.68TWh, down 19% from 2010 on an expected gas supply shortfall at Varadero, said Sherritt.

For the MD&A, go to this link