Latest News for Week 48 (2017)

Israel leans on big desalters to combat drought

The owners of Israel’s four major seawater desalination plants could be set for a boost after the government opened a competitive bidding process to supply an additional 75 million m3 over the next year to cope with the country’s ongoing drought.

The joint tenders committee of Israel’s Finance and Energy & Water Ministries, together with the...

Marubeni tries to woo Aguas ChaƱar for a second time

Chilean water operator Aguas Chañar’s shareholders* are negotiating the sale of up to 100% of the company to Marubeni in order to finance an investment programme to add new desalination capacity, and to extend and restore supply and sewerage networks.

A “closed process of negotiation” is ongoing, with the aim of reaching a deal by late January...

Mixed bag as UK water plc reporting season kicks off

The first three UK water and sewerage companies to report their interim figures for 2017/18 recorded significantly different year-on-year performances.

United Utilities was the most buoyant, increasing its underlying operating profit by just over 10% to £344 million on revenues that were marginally up (2.6%) from £853 million to £876 million.

At Severn...

Biwater swings back to profit as 50th birthday nears

Biwater has entered its 50th year on a high, as the company swung back into profit while boosting its revenues by a third.

New figures show that the UK-based contractor generated a net profit of £1.4 million on revenues of £60.2 million in the year ended 30 June 2017, marking a strong recovery from the prior year’s net loss of £4.5 million.


Mitsui to exit the European water sector

Japanese conglomerate Mitsui has agreed to sell its 49% stake in Czech water and wastewater utility SmVaK back to its Spanish partner FCC Aqualia.

At €92.5 million, the purchase price is lower than the €97 million Mitsui paid to enter the European water sector in 2013.

Mitsui’s other water holdings include a majority stake in Mexican project developer...