Latest News for Week 45 (2017)

Private sector commitments to African water tail off

Private sector investment in water infrastructure in Africa dropped to zero last year, even as overall commitments to the sector rose by 40% to $10.5 billion, according to a new report published by the Infrastructure Consortium for Africa (ICA).

While ICA members – including the African Development Bank, the World Bank Group, and Agence Francaise de Developpement...

New Iranian water minister pledges focus on reuse

The newly appointed minister responsible for Iran’s utility services has promised to make wastewater reuse a key plank of the country’s infrastructure policy as it looks to tackle regional water shortages.

In a speech following his 29 October appointment, Reza Ardakanian described treated sewage effluent as a “new resource”, and said it would...

APUC eyes international water market via Abengoa JV

Canadian regulated asset owner Algonquin Power & Utilities Corp. (APUC) has agreed to pay Abengoa $607 million for 25% of Atlantica Yield (AY), and to form a joint venture with the Spanish firm to develop energy and water projects globally.

The deal, which is expected to complete in January 2018, will net Abengoa around $515 million to repay hedge funds which...

Xylem shares reach all-time high on Q3 performance

Shares in NYSE-listed water pure-play Xylem surged by more than 4% to an all-time high of $67 this week after the company reported strong third-quarter results and revised its full-year earnings guidance range upwards to $2.39-2.41 per share.

Xylem beat consensus expectations by posting total quarterly revenues of $1.2 billion, up 5% organically year-on-year. Sales in...

Water ministry approves Saudi NWC role expansion

The Saudi Ministry of Environment, Water and Agriculture has expanded the remit of the Kingdom’s National Water Company (NWC) as the country prepares for the roll-out of privatisation in water and wastewater services.

The NWC was established in 2008 to provide potable water distribution and wastewater handling services in the three key city areas of Riyadh, Jeddah...