Vol 6, Issue 1 (January 2005)

Need to know

• CHINESE BUSINESS

  The Chinese water stampede continues, and the lion’s share is going to Chinese companies.

• DESAL DIFFICULTIES

  Things have not been moving so smoothly on Abu Dhabi’s other big deal, the Taweelah RO independent water project (IWP).

• ELSEWHERE IN ASIA

  As part of a nationwide infrastructure plan announced by Vietnam’s Ministry of Construction in December, the National Strategy for Environmental Protection (NSEP) has set new targets for urban water supply and wastewater treatment for 2010-20.

• MIDDLE EAST PROGRESS

  The holiday period did nothing to slow the momentum of water projects in the Gulf.

• RWE CARVE-UP

  RWE Thames has asked Goldman Sachs to line up potential purchasers for its Chilean, Chinese and Spanish operations.

Analysis

• A bumper year

  Water beat the index in 2004. 2005 is going to be tough.

• A gift from government

  Is financing water in the Middle East more of a political challenge than a financial one?

• Insight - David Lloyd Owen

  When the drink goes Saur.

• The big wave

  Water companies help out.

General

• A vintage year for European water stocks

  After three tough years, European water stocks have finally rewarded investors. Will 2005 match last year’s success?

• Asia water stock market – not everybody wins

  Despite the excitement about China, 2004 was not kind to Asian water stocks.

• Brazil finally passes its PPP law

  John Kolodziejski reports on progress on two fronts for private sector participation in the water sector.

• CAF boosts Andean water projects

  Leticia Lozano reports on how the regional development bank is stepping up its activity in the water sector.

• Degrémont eyes Gulf RO expansion

  Gulf customers remain sceptical of membrane desalination. Will Degrémont’s Fujairah plant change attitudes?

• Equipment beats utilities in US market

  The US quoted water sector also beat the index in 2004, with equipment stocks in the lead – thanks to GE.

• JBIC to feature in Middle East water deals

  Export credit finance will be an important factor in two of the region’s biggest IWPPs.

• Latin American investments in a sorry state

  As residents of La Paz complain of water company profiteering, a World Bank report shows the scale of the losses made in the region.

• Problems emerge at Fujairah

  The desalination side of the plant has been more successful than the power side. UWEC has appointed consultants to find out what has gone wrong.

• Russia’s barriers to investment

  With so many obstacles to making a return on their investment, private operators are running their businesses for cash.

• Three bid for Subiya

  Doosan is in pole position.

• Veolia scoops up Enel Hydro

  Veolia takes a leading position in the Italian market. It may require patience.

• Water stocks up 21%

  After three difficult years, water stocks have out-performed the major indices by a wide margin. What is the secret?

• What price Pridesa?

  The Spanish desalination specialist is up for sale. Christopher Gasson looks at the options.

Market insight

• Meeting the challenge

  Each country in the region faces its own particular challenges. Water Market Middle East looks at how they are responding.

• Thirsting for investment

  With high oil prices sucking money into the MENA region from the rest of the world, the water sector can expect a bonanza.