Vol 5, Issue 3 (March 2004)

Need to know

• COMPANY NEWS

  Another company with a new name is Philadelphia Suburban Corporation, which reported full year results earlier this month as Aqua America.

• DEALS

  Full liberalisation of Italy’s water sector under the Galli law seems unlikely following the passage to the statute book of decree 269.

• DEMERGERS

  South Staffordshire Group confirmed that it was considering demerging its regulated water business.

• DISPUTES

  Announcing the results, Agbar managing director José Luis Jové made some bullish comments about Aguas Argentinas.

• SUPPLIER NEWS

  Algerian oil and gas company Sonatrach awarded a €1.7 million contract to Weir Entropie for the engineering and construction of a 1,440m³/d desalination plant.

Analysis

• Degrémont ascendant

  Suez has turned to its engineering division to dig its water business out of a hole. Good move.

• The billionaire’s garage sale

  RWE is considering selling some of its water assets. It should sell more.

General

• AQP heads for the bond market

  With a BBB rating under its belt, Acquedotto Pugliese is heading for the private sector.

• Brazil PPP bill grinds ahead

  PPPs may not get payment priority but the bill is still on course.

• Breaking up Thames International

  Thames is looking at the options for its international portfolio. There are a number of complications.

• Financing the Water Framework Directive

  The EU’s big plan involves big money. David Lloyd Owen looks at the challenge for the UK water sector.

• French water reform rolls forward

  Balancing cost and the environment is going to be tricky. Public consultation is required.

• Guaranteed difficulties for contract ops

  Cities are looking for bigger surety payments as a result of high-profile disputes. Larry Chertoff investigates.

• Insight - David Lloyd Owen

  How can the Water Framework Directive be made to happen across Europe?

• Latin American lending starts to pick up

  The private sector doesn’t want to invest in Latin America any more. How are the multilateral lending institutions coping?

• Malaysia’s big moment

  The pace of privatisation has moved up a gear in Malaysia. Who is best placed to take advantage of it?

• Malaysia’s water barons

  See also: "Malaysia’s big moment"

• New boss follows big loss at Suez

  With the 2003 accounts drenched in red ink and this year starting badly with the loss of the Puerto Rico contract, Suez Environnement has changed the leadership.

• RWE water business hones its focus

  RWE announced a shake-up of its water business at its year-end results presentation last month. Thames Water’s international interests outside Europe and America may be sold as the company focuses its investment on eastern Europe.

• Sewerage network PPP in Gelsenkirchen

  As Gelsenwasser continues to grow, speculation about potential partners mounts.

• Shoaiba tests bidders’ staying power

  Already far from a straightforward deal, Shoaiba now faces competition from the Marafiq IWPP. Developers might not have the appetite for both.

• States pressing ahead with privatisation

  Direct awards rather than open tenders seem to be the way. See also: "Malaysia’s big moment"

• SWCC moves ahead with desal plans

  While its showpiece project at Shoaiba struggles, SWCC is getting on with the task of building more capacity elsewhere.

• Trouble for US Filter in Massachusetts

  US Filter is reeling from cascading problems in Massachusetts.

• Where will the investment go?

  See also: "Malaysia’s big moment"