Vol 11, Issue 9 (September 2010)
Need to know
- DESAL SHOCKS
*The big story this month is the surprise award of the Saline Water Conversion Corporation’s 1,037,000 m3/d Ras Azzour desalination plant in Saudi Arabia to Doosan using multi-stage flash technology.
- DIRECTOR’S CUT
Siemens Water boss Chuck Gordon is jumping ship to become chief operating officer of Heckmann Corporation.
- INDIAN SUMMER
*The water utility serving India’s capital, the Delhi Jal Board, is investigating private sector participation with the support of local development bank Infrastructure Leasing & Financial Services Limited.
- LESS THAN STIMULATING
* President Obama announced a new $50 billion package of infrastructure spending as a follow-up to the $787 billion stimulus package he initiated last year.
- NEW DIRECTIONS
*Agbar, the Spanish water utility now owned by Suez Environnement, has appointed Juan Antonio Guijarro with a brief to expand the business outside Spain and the southern cone of Latin America.
- Making sludge sexy
Christopher Gasson looks at how the wastewater treatment industry is starting to make sense to investors at last.
- David Lloyd Owen - Outsourcing outsourced
Glas Cymru highlights the limits of outsourcing.
- Chart of the Month - Large SWRO contract wins by capacity, 2009-2010
This month’s chart comes from our newly published Desalination Markets 2010 report.
- Calling Beltway Bandits!
Emma Welsh looks forward to GWI’s American Water Summit.
- MSF rules the roost at Ras Azzour
Doosan’s winning MSF bid at Ras Azzour has taken the market by storm. But do its extra-thin margins signal the start of a new squeeze for EPC contractors?
- Refilling the oasis in Abu Dhabi
The emirate has taken on ACC and Posco to execute an unprecedented aquifer recharge project. Other GCC countries are watching closely.
- ACWA plans global growth after Oman deal
After taking its first step outside the Kingdom, the Saudi developer is now eyeing up further expansion prospects beyond the Gulf.
- Desal stocks hit by slack project market
Consolidated Water and Energy Recovery Inc. were the worst performers in the GWI Global Water Index this month. It does not bode well for IDE Technologies’ planned IPO.
- Agbar’s new approach to global expansion
A fresh management structure and defined regional priorities should ensure Agbar does not wither under Suez Environnement’s control. Juan Antonio Guijarro talks to Richard Weyndling.
- Suez hybrid bond attracts €6.5bn of demand
Suez Environnement’s inaugural issue of hybrid capital securities will diversify its funding base and strengthen the corporate structure. Its credit rating is still on negative outlook.
- Thames Class B passes with flying colours
The second subordinated bond in as many months from Thames Water will enable the borrower to repay £835 million of acquisition debt. The deal sold out within two hours.
- The new Gray whistle test
The way the UK water industry is regulated will be put under intense scrutiny over the coming months thanks to a new government review.
- Tomorrow the sun will shine again
Saddled by huge debts, and hit by the recession in Eastern Europe, Vienna-listed SW Umwelttechnik desperately needs to reassure its shareholders that it is back on track. There is light at the end of the tunnel.
- The matrix re-loaded: AECOM’s new vision
Following a period of integration and re-branding, AECOM Technology Corp. now has a stand-alone water division for the first time. Global managing director Rob Andrews talks to GWI about his vision for the future.
- Cayman opens up to the private sector
A brace of opportunities on the water and wastewater side wlll radically change the way the water cycle is managed on the Cayman Islands.
- China moves to curb loans frenzy
Default fears have prompted China’s banking regulator to rein in the level of borrowing by infrastructure companies. Kathy Liu reports from Beijing.
- City of Sydney looks to profit from competition
The city’s plans to reduce its reliance on Sydney Water have taken a step forward. It is a further boost for water competition in Australia, argues Max Borchardt.
- New Delhi considers water PPPs
How best to involve the private sector? That is the current debate in the corridors of the Delhi Jal Board.
- MIDDLE EAST WATER NEWS IN BRIEF
*Algeria has taken a further step towards economic nationalism. On 6th September, the country published a new law making it compulsory for foreign companies tendering for projects to register in Algeria and form a joint venture with a local company.
- EUROPE WATER NEWS IN BRIEF
* The Valencian autonomous government has approved the first projects under a plan to use private sector investment to boost wastewater reuse, regional president Francisco Camps announced at the end of August.
- AMERICAS WATER IN BRIEF
* Shares in SouthWest Water Company ceased trading on Nasdaq on 13 September following the completion of the takeover by JP Morgan Asset Management and Water Asset Management, LLC. The delisting followed the granting of approval for the merger by the California Public Utilities Commission on 3rd September.
- ASIA WATER NEWS IN BRIEF
* Duoyuan Global Water’s (DGW) share price fell 42% to $12.10 on 13 September on news that its sister company, Duoyuan Printing (DYP) sacked its auditor Deloitte Touche Tohmatsu and that key executives had resigned in connection with apparent internal control issues.
- Christ Water resurrected as Ovivo
GLV COO Richard Verreault explains how he intends to build the world’s “only global business dedicated solely to water” from the merger of Eimco and Christ Water Technology.
- Water tariffs continue upward momentum
An 8.5% rise in the average combined water and wastewater tariff in 2009-2010 provides further evidence that utilities are taking infrastructure investment needs seriously.
- Portugal looks to water tariff equilibrium
Lisbon is seeking ways to ease the need for higher water tariffs in Portugal’s interior. A national tariff equilibrium fund could break new ground in the water sector.
- Sinking or swimming in China
Charles Bodhi finds truth in an ancient Chinese proverb.