Vol 3, Issue 8 (August 2002)
Analysis
- A word from the Editor
Predictably the July/August period has been fairly uninteresting. Several transactions, most notably in Europe, have slowed right down as government officials head off for their summer holidays.
General
- Benpres seeks exit from Maynilad
PHILIPPINE CONGLOMERATE BENPRES HOLDINGS is seeking a buyer for its shares in Maynilad Water Services, its joint venture with Ondeo, which has a 25-year concession to provide water and wastewater services to the west zone of Manila.
- Bids due for Abu Dhabi’s Mirfa IWPP
Banks, consultants and lawyers were scheduled to submit bids last month to act as advisers for Abu Dhabi’s fifth IWPP, which will involve the acquisition and expansion of the Mirfa plant in the western region of the emirate.
- Biwater plans legal action in South Africa
THE GREATER NELSPRUIT UTILITY COMPANY (GNUC) has finally run out of patience and announced that it intends to resort to legal action to recover unpaid bills.
- Brazil: the new president and water
While Brazil’s attention is focused on October’s presidential, congressional and state government elections, GWI thought it would be a good time to reflect on the state of the water sector and the likely effect the new incumbents may have on it.
- Corruption revelations rock Ghanaian water sector
An investigation into financial irregularities at the Ghana Water Company (GWC) has uncovered various incidents of corruption. Managers of GWC have been found to have made a fortune from contracts signed with the intention of preparing the company for privatisation.
- Kenya mulls private sector option
Deregulation of the Kenyan water sector and attempts to allow services to be run by international private water companies continue to be dogged by political opposition.
- New water policy moots PSP in India
India’s new national water policy has called for private sector participation, “in specific situations”, for building, owning, leasing and transfer of water resources. However, while foreign private water companies are likely to regard this as a step in the right direction, they are unlikely to be falling over themselves to catch the next flight to the subcontinent.
- Russian performance indicators
Around 90% of Russians living in the administrative divisions, or Oblasts, of Krasnodar, Leningrad, Perm and Samara have access to potable water while the figure for sewerage coverage is 63%.
- South African firm improves Addis revenue collection
ONE YEAR AFTER IT WAS SET UP, the Addis Ababa Water and Sewerage Authority (AAWSA) has announced that its new revenue collection system has been a resounding success.
- Study recommends PSP in Gujarat
A recent study has mooted extensive private sector participation (PSP) in the water sector in India’s Gujarat state. The study suggested that there was no alternative to PSP for improving the state’s mismanaged water supply system.
- Sulaibiya achieves financial close
Utilities Development Company (UDC) has closed the project financing for the Sulaibiya wastewater treatment and reclamation plant in Kuwait. The plant will produce effluent of sufficient quality for non-potable use and will have an initial design capacity of 375,000m<sup>3</sup>/d.
- Warsaw seeks advisers for Czajka
The Polish capital, Warsaw, has invited expressions of interest from advisers to prepare tender documents for the Czajka wastewater BOT. The notice was published in the Official Journal of the European Communities and Polish newspapers last month.
Companies
- Atkins to advise Ajman lenders
THE UK’S ATKINS WATER is to provide revenue and technical due diligence to the lenders which eventually sign up for the Ajman wastewater concession.
- AWS completes new bond issue
ANGLIAN WATER SERVICES (AWS), AWG’s ring-fenced utility business, has completed an issue of £1.76 billion of new debt. This brings AWS’ gross borrowings up to £3.48 billion, including £1.72 billion of debt which existing debt holders have agreed to transfer.
- Gelsenwasser and RWE rub shoulders in Poland
In mid-July Gelsenwasser acquired a 46% stake in water company PWiK (Przedsiebiorstwo Wodociagow i Kanalizacji) in Glogów, Poland.
- Gelsenwasser on the block
Companies seeking a position in the German water industry are likely to have rubbed their eyes in surprise when Gelsenwasser, Germany’s largest water supplier, appeared on a ‘must-divest’ list for energy conglomerate Eon last month.
- Ondeo first half revenues slip
REVENUES AT SUEZ’S WATER BUSINESS (ONDEO) were down 2.2% in the first half of 2002 due to the devaluation of the Argentine peso.
- Safège lands Saudi consulting work
ONDEO’S CONSULTANT ENGINEERING ARM, SAFÈGE, has signed a contract with the province of Mecca to provide project management assistance for water and wastewater work.
- Thames enters Spanish market
Thames Water has agreed to purchase majority stakes in two water businesses from the Spanish electricity group, Iberdrola Diversificacion.
Performer of the month
- Turbulent times for global markets
Global markets faltered in July as the US economy wobbled, Brazil’s financial woes flared, and investors watched and worried as the current bear market reached new lows.
