Vol 11, Issue 4 (April 2010)
Need to know
- VEOLIA’S NEW FRIENDS
* Former chief executive Henri Proglio has announced that he will step down as chairman of Veolia Environnement by the end of the year.
- IPO FEVER
* The stock market recovery has sparked IPO fever. In the past month, Chongqing Water has floated on the Shanghai Stock Exchange, VA Tech Wabag has filed its prospectus for an initial public offering on the Bombay Stock Exchange, Beijing Origin is moving ahead with its IPO, while Kemira has spun off its paints division to focus on its water treatment business.
- PUBLIC FINANCES
* The Chilean government is considering selling its remaining water assets in order to raise money to pay for reconstruction after the earthquake
- PRIVATE DESAL
* Kuwait has appointed financial, legal and technical consultants for its first independent water and power project (IWPP)
Ministers from 43 Euro-Mediterranean countries have failed to reach agreement on the proposed Strategy for Water in the Mediterranean.
Wall Street’s leading water analyst Debra Coy has left Janney Montgomery Scott to set up as an independent consultant.
- Gates goes down the pan
Christopher Gasson looks at the Bill and Melinda Gates Foundation’s strategy in the wastewater sector. It could change the world.
- David Lloyd Owen - Water for all?New goals need to reflect new realities.
Whatever we do today, the outcomes of the Millennium Development Goals for water and sanitation in 2015 are, broadly speaking, already determined.
- Chart of the Month - Water and wastewater capex forecast by selected region
This month’s chart comes from our new Global Water Market 2011 report.
- Just say no. . .
Emma Welsh reflects on the success of the Global Water Summit, and the difficulties of saying no.
- Libya weighs up its water supply options
Libya is facing a water supply deficit of 11 million m3/d by 2025. Adam Heffill reports from Tripoli on how the government plans to meet the challenge.
- A new look for desal in Tobruk
An April tender could make 2010 the year that Libya’s new desalination initiative takes off. Uncertainty still clouds the overarching financing strategy.
- Defining Libya’s broader water strategy
Since its establishment in 2009, the General People’s Committee of Utilities has wasted no time in pressing ahead with major management contracts.
- Libya’s $11 billion water lifeline
Sixteen years after the Great Manmade River delivered its first water, the construction of the 4,000km network is at last nearing completion.
- Home advantage holds the key for Zulal
With industrial references stretching to the remotest corners of Libya, Zulal Water Technology is eyeing bigger prizes in both the municipal and industrial sectors.
- Water index returns to pre-crash levels
Steady rises in all segments of the GWI water index this month have taken the benchmark to its highest level since August 2008. IPO activity in Asia bodes well for the sector’s perception amongst regional equity investors.
- DEWA’s runaway bond success
DEWA looks to have gone for price rather than size on its new bond issue. The deal is an important step towards restoring faith in Dubai’s credit story.
- BNPP consortium takes Kuwaiti advisory contract
The preparatory process for Kuwait’s first IWPP will determine the path for the wider adoption of the model in the country’s water and power sector. The choice of advisory team was crucial.
- Building confidence to finance the largest projects
The world is a brighter place for financiers than it was 12 months ago, but future power and water deals remain a subject of concern for many.
- NWC adds TSE to wastewater spin-off plan
Saudi Arabia’s major wastewater treatment plants could be packaged with ambitious water reuse schemes and offered to the private sector. It is an important new direction in the Kingdom’s water resourcing policy.
- Report reveals Israel’s crisis of confidence
A damning new report has laid the blame for Israel’s water crisis at the feet of the Water Authority and a trio of government ministries. Who will bankroll Mekorot’s proposed solution?
- Brackish desal to save Israeli aquifer
Agricultural run-off is threatening Israel’s southern coastal aquifer. Desalting the leachate will mean extra supplies for the National Water Carrier.
- UK water outsourcing market matures
Most of the UK water and sewerage companies have finalised their outsourcing plans for AMP5. Fewer contractors are getting a bigger slice of the pie.
- Who will do what in AMP5?
Anglian Water: £2,122 million
- Israel blocks Mediterranean water strategy
The adoption of a new water strategy for the Mediterranean region has stalled at the eleventh hour. It is more than just a re-working of the Water Framework Directive.
- A new chapter for Euro-Med
Spain’s water chief Marta Morén was instrumental in formulating Euro- Med’s water strategy. She spoke to GWI about her hopes for the future.
- Spanish ombudsman criticises legislation
A damning new report catalogues a series of deficiencies in the protection of water resources in Spain. It was published on the eve of an international water strategy summit in Barcelona.
- Solving the burning question of Russia’s wastewater sludge
Rostov-on-Don will become the second city in Russia to incinerate 100% of its sludge. A new contract marks Degrémont’s entry into a growing sector.
- Europe’s water ambitions face reality check
A lack of uniformity in the presentation of river basin management plans could hamper efforts to realise the goals of the Water Framework Directive. Nadia Weekes reports from Brussels.
- CORFO considers asset sales
The Chilean economic development agency may sell its strategic stakes in the country’s top three water utilities to fund post-earthquake rebuilding.
- PABs bill hinges on Senate vote
The removal of state caps on private activity bonds has moved a step closer
- Wabag hints at summer IPO timetable
The Chennai-based EPC contractor has filed for a partial IPO. The document throws new light on the vulnerability of the company’s revenues.
- Chinese investors lap up Chongqing Water IPO
Following its March listing, Chongqing Water Group is now the largest quoted water company in China. It was a triumphant return to form for home-grown water IPOs.
- An integrated approach to laying pipelines
Indian pipe manufacturer Welspun has moved along the value chain by buying up an EPC contractor. Rama Rastogi looks at how vertical integration could prove pivotal in India’s burgeoning infrastructure sector.
- ADB’s debut water bond lacks liquidity
A new bond issue from the Asian Development Bank does not necessarily mean extra funding for the water sector. Is it a case of nomen non est omen?
- Report criticises Aussie water buyback scheme
The Australian government’s approach to saving the Murray-Darling Basin has been questioned in a new independent report. Max Borchardt asks whether the whole thing was simply a piece of early electioneering.
- MIDDLE EAST WATER NEWS IN BRIEF
* MWH is selling its interest in Jordanbased MWH Arabtech Jardaneh (MWHAJ) to partner Arabtech Jardaneh. MWHAJ, previously part of the LEMA JV whose water and wastewater management contract in Amman expired on 31 December 2006, has been renamed AJ Water & Environment. MWH will continue its operations in Jordan and the Middle East independently.
- EUROPE WATER NEWS IN BRIEF
* On 26 March, the Italian Senate gave the final go-ahead to a law abolishing optimum territorial areas (ATOs) in charge of water and wastewater services
- AMERICAS WATER IN BRIEF
*Agbar subsidiary Aquagest Solutions has won a three-year contract to manage the commercial activities of Sedapal, which provides water and wastewater services to 8 million inhabitants in Lima, Peru. The contract, covering metering and customer relations, is Agbar’s first in the country.
- Siemens targets 10% growth in water
Chuck Gordon thinks he can grow Siemens’ water business at twice the market rate over the next five years.
- The year tomorrow never came
Slow growth in 2009 has failed to dampen optimism about the future of outsourcing water and wastewater services to private operators in the US. Emily Pickrell introduces GWI's 2009 contract ops survey.