was selected and we started to negotiate and look at how they can help us to deliver this project ,” added Postolka .
Corix is a privately held corporation , principally owned by the British Columbia Investment Management Corp ., with offices in Vancouver , B . C ., and Wauwatosa , Wis . Both parties would enter into an MOU to define roles and responsibilities in 2011 , a process for working together and a compensation commitment to Corix should an agreement not be reached . The process for working together included two distinct stages : first , a due diligence phase that included infrastructure , business and financial planning , and , finally , development and execution of a long-term concession agreement . In 2014 , Corix and the Lulu Island Energy Company executed a concession agreement that will see Corix design , build , finance and operate the system over 30 years , while Lulu Island Energy Company would manage the infrastructure . Richmond City Council is the regulator of utility rates . “ Corix has been a great partner . We have a great working relationship with their team ; they ’ ve served our customers well and have delivered our capital projects on time and on budget , in fact , often under budget ,” says Russell .
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