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In Global Water Intelligence this month
Need to know
- Pentair has decided to spin off its electronics business to become a water pure-play. It is going to take some story-telling to draw a single growth theme from Pentair’s diverse portfolio of assets. These include swimming pool equipment, hydroponic irrigation systems, pumps, membranes, and point-of-use filtration systems. There are certainly some great assets in there, but it will...
- RWL Water has signed a letter of intent as a precursor to becoming a publicly listed company in Australia through a proposed business combination with ASX-listed wastewater treatment specialist Emefcy. The deal, if consummated, would create a global pure-play company...
- Meanwhile, Japan’s largest water pure-play Kurita Water Industries is also going global. The president has bold plans to increase net sales from $1.9 billion to $2.7 billion within four years. Growth will be fuelled by...
- It looks like the mother of all legal battles is brewing over Mekorot’s Ashdod desalination plant in Israel. The project has left a huge crater in state-owned Mekorot’s finances as a result of a salvo of problems which hit the construction and commissioning of the plant. Sadyt, the Spanish desalination specialist which built the plant, is said to have...
- IDE Technologies is said to have been approached to fix the problems at the plant, which is one of only two large-scale desal facilities in Israel in which is does not own a stake. IDE is in the middle of its own ownership issues – 50% owner Israel Chemicals is said to be shopping its stake to prospective investors...
- Sumitomo has joined Brookfield Business Partners in mopping up the majority of Odebrecht Ambiental’s Brazilian water assets. After parting with $250 million, the Japanese trading house emerged with a 14% stake in...
- GS Inima is looking for an investment partner to help it grow its Brazilian concessions business. Ideally it wants to retain control of GS Inima Brasil while using third-party capital to...
- Also up for grabs is the somewhat rag-tag bunch of Latin American water interests assembled over the past 15 years by Madrid’s regional operator Canal Isabel II. The growing corruption scandal which has hit the company has resulted in a commitment to...
- Although Brazil is the second-largest market for greenfield private water investment after China, it looks like the government may be over-ambitious about the speed at which it can deliver reform...
- The newest multilateral development bank on the scene, the Asian Infrastructure Investment Bank (AIIB), has chosen water as one of its three core sectors. Its first commitment with a water sector component is a $...
- Conversely, the Asian Development Bank continues to find exciting Chinese water PPP trends to back. This month, it mobilised $250 million for...
- Dubai-based Future Pipe Industries has defended itself against accusations that it “controlled the vote” to defeat an amendment to the International Desalination Association’s constitution. The measure would have ensured that no company could have more than two employees on the board of the association. When the amendment was voted down 833 votes to 231, an anonymous e-mail was...
Charting the progress of over 900 Desal, Reuse and PPP water projects in the international water industry.Download a sample
Latest Tracker Updates
|Sterling Nat...||United States||20 Jul 18||The Arcadis/Ba...||Reuse|
|Okhla WWTP||India||20 Jul 18||The bid submis...||WWTP|
|FGUA O&M, FL||United States||20 Jul 18||The shortlist ...||Utility|
|Michelson WR...||United States||20 Jul 18||At its meeting...||Reuse|
|Los Alisos M...||United States||20 Jul 18||At its meeting...||Reuse|
What's making the news in global water projects this monthProject tracker
Panama’s procurement activity reaches new high; Peru recasts PPP plans; Brazil’s first desal project delayed; Bureau of Reclamation eyes P3s; Florida’s reuse ambitions; CH2M wins big in North Miami Beach; Tunisia re-tenders for mobile desalination; all the latest project news...
GWI Water Index
Pentair’s decision to recast itself as a water pure-play by spinning off its electrical business is symptomatic of a wider trend for firms to seek higher valuations through specialisation.
Water on the markets this month:
|Global Water||154.54||-3.56%||10 Jun|
|Asian Water||104.62||-6.53%||10 Jun|
|EMEA Water||90.98||-3.01%||10 Jun|
|Americas Water||245.89||-2.12%||10 Jun|
Which multilateral international financial institutions have lent the most money to the water sector over the past decade?
Bootstrapping it with the best of the best
Christopher Gasson explains the thinking behind the Leading Utilities of the World initiative launched last month.
Chart of the monthChart of the month: US utility capex slumps
This month’s chart is somewhat alarming. It shows data from the US Census’s monthly Construction Put in Place survey, giving details of the total spend on drinking water treatment and systems, and wastewater collection and treatment combined with solid waste facilities.
Last month the Global Water Leaders’ Group launched a new initiative to highlight the achievements of the top performing utilities in the world. It has ambitions to change the way the water industry works.
Singapore PUB’s chief executive Peter Ng has another goal in mind: being the best for Singapore. It means pursuing impossible performance targets, pushing the boundaries of technology, and still worrying about how to win the trust of customers.
Chief Technology Officer
Irish beef manufacturer ABP Food Group is turning its own waste into an asset by delving more into the circular economy. GWI discovers how it derives value from its nutrient-rich wastewater and what’s next for the food giant. Read more
Smart Water Watch
Satellite image analysis companies such as Utilis and Satelytics are offering utilities a new perspective on their networks. Can this small step offer utilities new insights or is it a giant leap too far? Read more
Wabag’s experience as an EPC contractor as well as a solid track record of in-house technology development has put it at the vanguard of innovation. CTO Kim Soerensen shares how Wabag is responding to the key trends of water recycling and more advanced treatment. Read more
AmericasPure Technologies partners with Xylem to target smart water in emerging markets
Both firms are responding to an increasing focus on water loss and asset management in emerging markets. Will their latest collaboration lay the groundwork for a more formal relationship in future?US water sector assesses the challenges as Bureau of Reclamation mulls P3s
Despite increasing awareness of the potential role for private finance in meeting infrastructure investment needs, the US water sector is notorious for its limited pipeline of tangible P3 opportunities. Will an RFI issued by USBR be another case of all talk and no action?RWL Water and Emefcy combine in Fluence
The combination of Emefcy’s technological prowess with RWL Water’s global reach looks good on paper. As a publicly listed company, the merged entity will be accountable to more than just a family office.Contractors fight for dominance in DBOs as Panama infrastructure roll-out gathers pace
The nation has become one of the most active procurers of water and wastewater treatment infrastructure in the last 18 months. How long before the momentum loses steam?Peru sets out its new vision for private sector intervention in water and wastewater
The Peruvian authorities have ripped up their previous plans for private sector participation in water and wastewater infrastructure. How will the new set of projects be received?Brazil’s privatisation push faces new setback as consultancy timetable falters
Fewer than half of the tenders for consultancy contracts aimed at defining Brazil’s water PPP roadmap were awarded as planned last month. The window for making tangible progress ahead of next year’s elections is closing fast.Saneago to test the waters with IPO
The investible universe of Brazilian water stocks could be about to get wider.The tortoise and the hare
Speedy industrial growth has been prioritised by water companies, but a muni spending revolution is underway, argues Debra Coy.Pentair recasts itself as a pure-play water company
Spinning off its electrical business will transform Pentair into a pure-play water company. Can it convince shareholders that it has a cohesive go-to-market strategy?Will the new Pentair go digital?
As Pentair faces up to its future as a water-only equipment firm, maximising the value of its product portfolio will require quick action on smart water.
Asia pacificReuse and overseas M&A to drive Kurita’s $2.7bn goal
The Japanese chemicals giant is preparing a new management plan to grow its revenue to $2.7 billion per year. Buying chemicals sales networks in the US is a priority, but with its profit margin under strain, Kurita also has industrial reuse BOOs firmly in its sights.Safbon to buy Doosan Hydro
Safbon’s fourth cross-border buy in two years will function as a bridge to the US, and bring a crucial bank of engineers.Sumitomo taps partners to add value in Brazil
Japanese trading house Sumitomo Corporation has spent $250 million to take a minority stake in a private equity-led water concessionaire in Brazil. How will it add value?Asian Development Bank signs off on $250 million loan for CITIC’s water subsidiary
The growing trend in China for ever larger PPP contracts covering multiple environmental services is attracting the largest state-owned names into water. With its latest loan to CITIC, the ADB is recognising that these integrated solutions providers are the future.Multilaterals provide assistance at the birth of the Indonesian Development Bank
Indonesian PPP financier SMI is absorbing hundreds of millions of dollars from international financing institutions and commercial lenders as it transitions into a national development bank. As facilitator, lender and advisor, its competencies are in high demand.AIIB joins hunt for bankable water projects
The water sector and private sector participation are two key priorities for the fledgling AIIB. A policy of trying to limit its investment in China – the main market for bankable water BOTs – means that its private sector arm may struggle to match its sovereign lending.
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EuropePre-emptive takeover to net Affinity sellers 40% premium
A pre-emptive offer for a UK regulated water company could mark a new direction for the sector. With more money chasing fewer assets, are auctions a thing of the past?Canal Isabel II to sell off its Latin American water portfolio
A corruption scandal has forced the Madrid-based company to put its non-domestic holdings on the block. Ongoing investigations mean the sale process will be far from straightforward.Inima emerges from revenue stagnation with dual-pronged growth strategy
The Spanish contractor has diversified its business model in order to meet the growth expectations of its Korean parent. It has yet to make a breakthrough in the Gulf.Abengoa ready to return to growth in water
The Spanish company’s water subsidiary was on top of the world in 2015 when its parent company was overwhelmed by debt. After a huge financial restructuring, the company is ready to reconquer the water market, CEO Joaquín Fernández de Piérola Marín tells GWI.A GLAAS half empty?
Investment in water assets cannot be carried out in the dark, says David Lloyd Owen – but where is the data?
Middle East and AfricaMekorot D&E faces chaos over crisis-hit Ashdod project
Israel’s government has asked IDE Technologies to step in at the troubled Ashdod desalination plant. With delays, construction issues and contractor disputes plaguing the project’s progress, the future of the plant – and its state-owned developer – looks uncertain.ACWA Power upsizes unique project-backed bond for $300m investment war chest
An oversubscribed asset-backed bond will mean a major cash injection for the leading Saudi power and water developer at a time when the Kingdom’s privately financed project market is exploding. It is also a major sign of international confidence in the Kingdom’s plans.Saudi Arabia bolsters role of central offtaker ahead of water PPP push
A new cabinet ruling has put the Water and Electricity Company back at the centre of things as the Kingdom looks to stimulate a wave of private water investment.Global pooled finance initiative for water gets €10m Dutch government backing
A new water financing facility aims to leverage €1 billion of debt finance from local institutional investors. How will it overcome the hurdles which have ended previous attempts to establish sustainable local finance initiatives?African Water Facility to screen projects for PPP potential under ambitious new strategy
The AfDB-hosted body wants to leverage €15 billion of funding for infrastructure and service provision by matching bankable projects with sources of finance. It will have to ensure its own financial sustainability first.