IN BRIEF – AMERICAS
- From: Vol 8, Issue 11 (November 2007)
- Category: Brief
- Region: Americas
- Country: United States
- Related Companies: Aguas y Drenaje de Monterrey, American Water, Aqua America, Kerrville South Water Company, Inc, Moody’s, Pure Group AS, S.J. Services, Inc, Torr Canada Inc and United Water
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* United Water has successfully renewed the Indianapolis wastewater contract, one of the most lucrative PPPs in the United States.
The contract is worth the equivalent of €178 million over nine years, and is extendible for a further 11 years after that.
* Mexico’s northern state of Tamaulipas aims to build a $500 million underground water pipeline from the Falcon Dam on the US-Mexico border. The plan, which the state water commission says will involve private
sector tenders, involves building 270km of pipe to carry water at a rate of 10m3/s. “We hope to open tenders for parts of the construction in mid-2008,” said Jaime Cano, Conagua’s infrastructure director. The project is likely to take 18 months to complete, with financing coming from the NADB, Banobras and Tamaulipas state.
* Mexico’s second-largest water utility, Aguas y Drenaje de Monterrey, is seeking a loan of $350 million with a 30-year maturity to finance a secondary distribution ring to increase drinking water provision in Monterrey. The debt follows a $160 million 30-year loan facility in April negotiated with Banorte. Despite local concerns the new loan could bankrupt the utility, rating agency Moody’s says the facility could be comfortably serviced by future income flows.
* American Water has acquired S.J. Services, Inc., which runs two regulated water utilities in New Jersey. The acquisition will add more than 7,200 customers to American’s portfolio. Aqua America, meanwhile, snapped up the Kerrville South Water Company, Inc. in Texas for $2.9 million, adding approximately 3,700 people to its Texas operation, which serves over 150,000 people.
* Torr Canada Inc. has closed the acquisition of Pure Group AS, a provider of leading technologies for oil, gas and water purification. The final purchase price will be paid with C$10.5 million in cash, the issuance of 16,453,971 common shares of Torr, and the refinancing of an existing loan for approximately C$7.5 million, according to the company.
* The WEFTEC.07 event in San Diego attracted a record-breaking 19,929 attendees and 1,017 companies, making it the largest event in the conference’s 80-year history. More than 750 companies have already signed up for next year’s event in Chicago.