Vol 6, Issue 9 (September 2005)

Need to know

• BEIJU FEVER

  Landing Chinese deals is becoming the sector’s Olympic discipline, but who will strike gold? Here are the competitors of the month:

• BIG DEALS

  Mitsubishi Heavy Industries said it had received an order for the turnkey construction of an oil-fired power and desalination plant in Rabigh, Saudi Arabia.

• LOST IRONY

  The City of Nashua in New Hampshire has spent the last four years locked in a bitter battle to buy out its water system from Pennichuck Water.

• WALKING AWAY

  Suez has finally decided to walk away from its water and wastewater concession in Buenos Aires.

Analysis

• Crazy couples

  What drives water tariffs?

• Insight - David Lloyd Owen

  Getting sniffy about the River Po.

• The end of the history of water

  Is the financial independence of the water sector inevitable?

General

• AMGA goes to the top of the big league

  The publicly quoted Genoa utility’s recent acquisitions have made it the biggest water operator in Italy. Is it part of a wider multi-utility consolidation in Italy?

• Barka and Rusail competition underway

  The Omani government is also proceeding with a new IWPP and the privatisation of an existing power generation company.

• Concateno sizes up Southern Water

  With a bid for Sutton and East Surrey now looking doubtful, the AIM-listed bid vehicle has its sights on bigger fish.

• Cool reception for new water index

  The American Stock Exchange has launched a water index. Will it ever by widely traded?

• Delhi embraces management contracts

  India’s capital needs a continuous water supply. Will the private sector provide the solution?

• ECA capital investment corrected

  We ran some incorrect data in our July edition.

• Hamburg creates new water player

  The city’s water and wastewater companies merge to form Germany’s largest water enterprise.

• Move over Hyflux – here comes Bio-Treat

  The Singapore Stock Exchange approves of the company’s new approach to secondary wastewater treatment.

• New wave of bond issues on the way

  The water and sewerage companies are looking raise £16.9 million. It will keep the banks and lawyers busy.

• Oman launches Sur tender process

  The Sultanate has managed a successful programme of IWPPs and IPPs. Sur will be its first IWP.

• Saudi prospects brighten

  A series of initiatives to improve the production and distribution of water in Saudi Arabia are moving ahead. SWCC is also making progress with its restructuring and privatisation plan.

• Terra Firma deal goes soft

  Guy Hands wants to withdraw his offer for East Surrey Holdings, but the bid is not over yet.

• The related and unrelated sector

  Barka and Sur will be regulated under separate laws.

• TWIC lines up industrial projects

  With the groundbreaking Tirupur water treatment project under its belt, TWIC has turned its attention to water reuse.

• Water tariffs ready for take-off

  GWI’s 2005 Water Tariff Survey suggests that tariffs are moving upwards, but the anomalies remain.

Companies

• Hyflux falters despite Tuas success

  Its sky-high share price wobbled in August but chief executive Olivia Lum remains confident that Hyflux can deliver.

Market insight

• The 2005 GWI Water Tariff Survey

  Water and wastewater tariffs for 150 significant cities around the world.

• The 2005 GWI Water Tariff Survey (cont.)

  Table continued (2 of 3)

• The 2005 GWI Water Tariff Survey (cont. #2)

  Table continued (3 of 3)