Vol 4, Issue 2 (February 2003)

Need to know

• COMPANY RESULTS

  South Africa: Umgeni Water slipped back into the red for the interim period to December 2002. The company reported a loss of R7.1 million ($850,000).

• CORPORATE

  UK: Suez put Northumbrian Water up for sale. The asking price is thought to be between €3 billion and €4 billion (see story, p.9).

• DEALS

  United States: United Water and the city of Atlanta agreed to end their 20-year operations and maintenance agreement signed in 1999 (see story, p.10). The contract was worth annual revenues of $20 million.

• INVESTMENT

  Sri Lanka: The Asian Development Bank (ADB) approved a $60.3 million loan to increase access to safe water and sanitation in three provinces.

• PEOPLE

  UK: Mott MacDonald named Malcolm White as managing director of its water and environment business.

• PUBLICATIONS

  Sweden: An article published by the Stockholm International Water Institute (SIWI) set out the Swedish perspective on privatisation.

Analysis

• A drop in the ocean

  Financing the European accession countries.

• Camp X-Ray

  Ofwat’s offering.

General

• Ambient concession starts charges in March

  The OHL-led company is to start recouping its costs next month.

• Aquamundo wins Albanian management contract

  The company is to take over water and wastewater management in Kavaja.

• Black & Veatch and Thames Water complete Ajman financing

  Four banks have come in on the deal.

• EBRD reports significant growth in loan commitments

  Thanks to new business in Russia.

• EIB transaction highlights

  EIB loans were also extended to the C&EE countries last year.

• Eurawasser takes 49% in Schwerin water company

  By building on an existing relationship.

• Little hope for Manila concession

  The end would seem to be near.

• Reservoir and water company privatisation on the cards

  Privatisation moves in Saxony-Anhalt.

• San José concession called off

  A new approach is being considered, possibly based on a partial DBO scheme.

• Singspring awarded PUB desalination project

  Singapore has taken another step in reducing its reliance on imported Malaysian water.

• Taweelah IWP update

  Still some way to go?

• Vivendi to lose its hold over Sanepar

  The state of Paranã is seeking greater control of its water company.

Companies

• Atlanta terminates contract with Suez

  The end of a fractious relationship?

• Job loss claims denied by RWE

  After the good news, business as usual?

• Suez to sell Northumbrian Water

  In an attempt to improve its debt position.

• VE considers asset sales

  But presses ahead with Southern Water acquisition.

• Vivendi Environnement moves top managers

  The company is modifying its management board and further changes are set to follow.

Performer of the month

• Suez buoyed by market gains

  The company’s decision to sell Northumbrian Water has gone down well.