Vol 10, Issue 2 (February 2009)
Need to know
- RESULTS AND REDUNDANCIES
* Suez Environnement published its 2008 revenues on 29 January (the profit figures will be out next month).
* Thames is not the only company tapping the debt markets this spring.
* The final US stimulus package is expected to be signed into law as GWI goes to press.
- The difference is brilliance
Christopher Gasson has a strategy to defeat the gloom.
- Insight - David Lloyd Owen
Public virtues and private projects – development banks step into the breach.
- US major wastewater discharges by industry (excluding power)-CHART
This month’s chart is the result of a freedom of information request we recently put into the US Environmental Protection Agency.
- US stimulus package disappoints for water
Less than one per cent of the US economic stimulus will go towards water and wastewater infrastructure. The outcome is unlikely to change the ‘D-’ grade given to the sector by the American Society of Civil Engineers.
- Black Trotter Best
Emma Welsh discovers the joys of Spanish ham en route to visiting her first desalination plant.
- Southwest heads in the right direction
The resolution of a long-running legal dispute sent Southwest Water’s share price soaring this month. The sudden departure of Veolia’s CFO, meanwhile, ups the ante ahead of the company’s results announcement on 6th March.
- SoCal, so good – California’s snowpack worries
Concerns are growing over low snowpack levels in Northern California. The situation in the south, meanwhile, could hardly be rosier
- Aqua America digests and disgorges
The aggressive acquisition strategy pursued by Aqua America eased off last year, with only nine deals reaching completion. It does not seem to have affected the company’s share price.
- Camus proves that he’s no outsider
United Water’s new CEO is a crisis veteran. He is busy integrating a clutch of acquisitions so he can tackle the latest downturn head-on.
- Thames pays the price for diversification
Thames Water’s debut € bond issue carries a classically defensive maturity. The company was still obliged to pay a premium in order to attract new investors.
- DEWA refinancing weighs as pressure mounts
Refinancing a $2.2 billion loan in April could prove costly for Dubai’s water authority. What are its options?
- Aragón to offer four wastewater BOTs
The Spanish region wants to use private sector finance to expand waste water coverage. The risk profile of the contracts could discourage some from bidding.
- WWTPs without waiting around
Aragón’s environment minister spoke to GWI about the impact of the proposed wastewater treatment scheme in the Pyrenean region.
- Acuamed appoints new director
Adrián Baltanás has been replaced as the head of Spain’s desalination authority. His successor is Valencian Carlos Massa.
- Recession eats into UK water revenues
The big UK water companies have warned that lower consumption volumes and rising bad debts are impacting their top line. It could just be the tip of the iceberg.
- Italian investment under threat
Italian water operator Acquedotto Pugliese has threatened to cut €250 million of investment after the local regulator reneged on a tariff hike.
- You don’t have to switch to get rich
The message from Scotland is that water competition has brought savings,though many are still missing out. GWI spoke to Alan Sutherland of WICS.
- Veolia secures Jubail industrial O&M contract
The French firm has signed its first industrial O&M contract in the Gulf. It is part of a wider outsourcing trend.
- JBIC’s $2.5bn dominates Ras Azzour debt package
International banks have been all but marginalised in the $4.2 billion financing package for Ras Azzour.
- Fifteen prequalify for Muharraq WWTP
Bahrain has named the consortia vying for the Muharraq wastewater project. The groups make interesting reading.
- Libyan contract awards seen by summer 2009
The bids are in for Libya’s maiden set of water management contracts. Further opportunities are in the pipeline.
- Right remedy for Saudi groundwater crisis
The new deputy minister for planning and development Mohammed Al-Saud thinks water rights might help control agricultural water use in the kingdom. Not before time.
- SWCC’s research institute goes commercial
When the Saline Water Conversion Corporation sells its production facilities, the Jubail research institute will have to stand on its own. It is getting prepared.
- Mekorot to step up borrowing
Israel’s bulk water supplier is planning to cover its 2009 investment budget through borrowing. It is also weighing up agricultural tariff reform.
- “Getting the last bank in” at Salalah
Sembcorp has been sounding out banks in an attempt to raise financing for the Salalah IWPP. It is facing an uphill battle.
- Ashdod EPC tender launched
Mekorot has issued an EPC tender for the Ashdod desal plant. The winner will have the option to take an equity stake at a later date.
- ‘Year of the bull’ for Chinese water
What will China’s $587 billion economic stimulus package mean for the water sector? GWI’s Kathy Liu discusses the winners and losers.
- Building growth through capability
Australian consultancy SKM wants to leverage its domestic experience to take on the world. General manager Geoff Linke spoke to GWI about his vision for the firm’s water business.
- TTW to tap bond markets with debut issue
Thai Tap Water’s plan to borrow on the bond markets will allow it to finance much-needed capacity expansion. Managing director Sompodh Sripoom talks to GWI’s Rhys Owen about the way forward.
- In Brief - Europe
* It seems Italy is blowing hot and cold for private water operators.
- In Brief - Middle East
* Mott MacDonald has been mandated by Majis Industrial Services Company (MISC) to prepare a feasibility study for a new desalination plant to be located at Sohar in Oman.
- In Brief - Asia
* Manila’s Metropolitan Waterworks and Sewerage System (MWSS) has frozen tariffs in the coverage areas of Manila Water Company (East Zone) and Maynilad (West Zone), due to the economic crisis.
- The 2009 Global Water Awards:Water Company of the Year
The complete list of companies and projects which have been shortlisted for this year’s Global Water Awards.
- The 2009 Global Water Awards:Desalination Company of the Year
For the desalination plant supplier or consultant which made the greatest overall contribution to the desalination industry during 2008.
- The 2009 Global Water Awards:Public Water Agency of the Year
For the public sector organisation which made the greatest contribution to meeting the challenges of water supply during 2008.
- The 2009 Global Water Awards:Water Deal of the Year
For the deal, contracted in 2008, which has made the biggest contribution to the advancement of public-private partnerships in the international water sector.
- The 2009 Global Water Awards:Desalination Deal of the Year
For the deal signed during 2008 which represents the most significant step forward for the industry in terms of financial innovation, or in meeting the demands of challenging circumstances.
- The 2009 Global Water Awards:Water Project of the Year
For the water or wastewater project, commissioned in 2008, that represents the most significant contribution to water technology and environmental protection
- The 2009 Global Water Awards:Thermal Desalination Plant of the Year
For the thermal desalination plant, commissioned in 2008, that represents the most impressive technical achievement in the industry.
- The 2009 Global Water Awards:Membrane Desalination Plant of the Year
For the membrane desalination plant, commissioned in 2008, that represents the most impressive technical achievement in the industry
- The 2009 Global Water Awards:Water Reuse Project of the Year
The water reuse project that represents the most significant achievement for the industry in 2008.
- The 2009 Global Water Awards:Industrial Water Project of the Year
The project, commissioned in 2008, that represents the most impressive technical achievement in the field of industrial water.
- The 2009 Global Water Awards:Sustainability Award
For the project or initiative which represents the greatest contribution to social, environmental and financial sustainability of the water sector in 2008.