Vol 4, Issue 9 (September 2003)
Need to know
- COMPANY RESULTS
Brazil: Sabesp reported revenues of R$1,013.9 million (US$348.9 million) and a net profit of R$332.6 million (US$114.4 million) for the second quarter of 2003.
France: Suez completed the sale of Nalco to a consortium comprised of the Blackstone Group, Apollo Management and Goldman Sachs Capital Partners.
Jordan: Two groups submitted offers for the Disi-Amman project.
South Korea: The ministry of environment said that tenders for a consolidated management and monitoring system for a series of new STPs would be announced during the last quarter of 2003.
- WATER PRIZE
Saudi Arabia: Companies looking to enhance their international prestige have until the end of October to submit their entries for the Prince Sultan bin Abdulaziz Water Prize.
- A world price for water?
Our water survey shows world prices for water vary between 15 cents and $2.10. It is causing a crisis.
- Credit rating the off-taker
Why having a local partner in Saudi Arabia is so important.
- Brazilian government backs PSP
Private concessions to operate water services in Brazil are a possibility once again. A regulatory framework needs to be agreed first.
- Dayen scores third M&E contract
For Singapore’s Seletar water reclamation plant.
- Desalination costs: low enough yet?
Reverse osmosis desalination has broken the 50-cent barrier. Will this bring rapid market expansion?
- Five bid for South East Water
Saur is hoping to complete a sale by the end of September.
- HK seeks new water deal from China
The territory is to lobby Beijing to get Guangdong to cut water supply costs.
- International developers shun Shoaiba
Only IP, Shell, SNC Lavalin and AES are thought to be interested in the deal. But this is not necessarily a major problem.
- IWL to exit Manila concession
Manila Water Company’s shareholders are to inject fresh equity into the company to buy out IWL’s ownership interest. Meanwhile, MWC expects to post its best ever financial performance this year since taking over the east zone concession in 1997.
- Japan: flirting with PSP
Japan is not likely to feature on most private water companies’ radar screens based on its past experience of PSP. But that could change if more greenfield projects come on stream. Thames Water and Veolia seem to think they will.
- Malaysian government to manage water supply projects
Dissatisfied with the failure of state governments to keep costs down, the federal government is to take over water supply management.
- PPB claims Beijing sewage project
The Malaysian conglomerate is to build an STP as part of Beijing’s planning for the 2008 Olympics.
- Sabesp announces 2Q results
Profits at Latin America’s largest water company are up thanks to the strong Brazilian real.
- São Francisco transfer to be first major investment scheme
President Lula also announced in August that the River São Francisco transfer scheme would be the first large public works project to be included in his 2004-07 investment plan (Plano Pluriannual).
- Shandong water concession for Salcon
Another Malaysian company has scored a success in the Chinese market.
- Shoaiba bidders come together
Good local connections are the key to successful contracting in Saudi Arabia. GWI looks at who might be well placed to swing the Shoaiba project.
- Slow going in San Pedro Sula
Acea is struggling with Honduran bureaucracy.
- Thames Water plays key role in RWE restructuring
Thames Water is to take a 51% stake in RWE Aqua. There are also better than expected synergies between Innogy and Thames in the UK.
- The US: a farewell to farms?
As subsidies run dry, Americans will have to pay the full cost of their water. GWI’s US correspondent Larry Chertoff looks at the implications.
- The water pricing paradox
It seems that the less water you have the less you pay for it.
- UK water industry faces rising finance costs
Water companies could find it hard to raise the funds required for their investment programmes over the next pricing period.