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Iraq plans to use desal for drainage water reuse

Iraq is planning a major desalination project in a bid to reuse the vast amounts of brackish run-off from its agricultural drainage system.

The country’s Ministry for Water Resources (MOWR) has issued a tender in a bid to find a consultant to help it look into potential treatment and reuse options for the water passing through the Main Outfall ...

Mahle continues consolidation in UF membrane market

German filtration specialist Mahle has continued the build-out of its water portfolio with the acquisition of InnoWa Membrane GmbH. InnoWa, which manufactures hollow-fibre ultrafiltration membranes, will be integrated into Mahle’s industrial filtration division.

The deal follows Mahle’s acquisition of Amafilter in 2008, and is further evidence of consolidation in the fragmented low-pressure membrane industry, where German companies have ...

UGSI shares rise to year’s high on record 2011

Shares in fusible pipe specialist Underground Solutions Inc. rose to a 52-week high on news that the company enjoyed a record year for booked business in 2011.

“Overall, 2011 bookings increased by more than 40% over 2010,” CEO Andy Seidel told investors in his annual shareholder letter. While year-on-year revenue growth was more measured, a record backlog should prevent a ...

ADB’s water lending not dependent on ‘water bonds’

The Asian Development Bank has issued $268 million in Turkish lira-denominated ‘water bonds’, just months before the redemption of its inaugural issue under the programme.

Underwriter Daiwa Securities expects to place the TRY474.5 million 3-year bond – which carries a coupon of 6.29% – with retail and institutional investors in Japan over the coming weeks.

The ADB has previously told ...

Thames sale completes Santander’s exit from water

Santander’s urgent need to boost core capital was behind the recent sale of its stake in Thames Water to China’s sovereign wealth fund China Investment Corporation.

The Spanish bank – which offloaded Chilean water utility Aguas Nuevas in 2010 – remains under pressure to monetise what assets it can without incurring losses, which rules out liquidating its domestic real estate ...

Instrata expands portfolio with Salalah IWPP stake

Bahrain-based investment manager Instrata Capital has made its third move in the regulated water/power supply market with the purchase of a stake in the Salalah IWPP in Oman from the Oman Investment Corporation (OIC).

Instrata – which manages the Shariah-compliant Bunyah fund – would not confim the size of the stake taken in the project. Its existing IWPP portfolio also contains ...