Spain’s Inima seeks three more Brazilian concessions
- From: Vol 2, Issue 1 (January 2001)
- Category: Brief
- Region: Americas
- Country: Spain
- Related Companies: CH2M Hill, Inima, OHL Group and Rek Engenharia
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SPAIN’S INIMA is seeking to gain three more, as yet unnamed, city water service concessions in São Paulo state.
Inima, a subsidiary of the OHL construction group, already has an 80% stake in Ambient, the operator of the Ribeirão Prêto water concession.
Ambient was originally formed in 1995 as a partnership between CH2M Hill and Brazil’s Rek Engenharia. Inima replaced CH2M Hill in 1999 when the US company pulled out after it was refused a R$35 million (US$18 million) credit line from Brazil’s state economic development bank BNDES, having failed to provide sufficient guarantees.
Inima was able to step in and offer the required guarantees, invest R$20 million and pay a fine of R$10 million for previous delays in meeting contractual obligations. Private water concessions are already in place in five other São Paulo towns. They are Jundiaí (population 293,000), Limeira (population 230,000), Aracatuba (population 163,000) and Itu (population 123,000).