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Adelaide water services contract up for renewal

South Australia Water is finalising its procurement strategy ahead of tendering a 10-year renewal of the contract to operate and maintain Adelaide’s water and wastewater infrastructure. The current contract, held by Veolia subsidiary United Water, is due to expire at the end of June 2011.

When the original contract was signed in December 1995, the concept of...

DSI takes majority stake in Passavant-Roediger

Dubai-listed Drake & Scull International has acquired an 82% stake in German water and wastewater EPC contractor Passavant-Roediger for AED145 million ($39.5 million). The ownership of the remaining 18% will remain with Bilfinger Berger.

The deal marks a new direction for DSI in the water sector. The company’s Infrastructure, Water and Power division has...

American Water shares jump 6% as RWE exits

RWE has sold its remaining 23.5% stake in American Water for $21.63 a share, six years after buying the company for $8.6 billion. The German company opted to exit from the US regulated water business after being frustrated at the slow growth prospects and capital-intensive nature of the sector. Having paid an extremely rich 2.7 times book value to acquire the business...

Consolidated Water shares hit by impairment charges

Consolidated Water’s shares plunged by more than 12% following the release of its Q3 results on 10 October. The fall was largely due to a 63% decline in net income, driven primarily by further impairment charges at the company’s affiliate Ocean Conversion-BVI.

“We think the recent sell-off in the stock overstates the risks, and we expect an earnings...

Water business gains weight within Acciona

The management restructuring announced by Acciona at the beginning of November puts the water business on an equal footing with energy and construction as one of company’s core activities.

Luis Castilla, director-general of Acciona’s water division Acciona Agua, will hold the post of divisional president from 1st January 2010, and will sit on Acciona’s...

Dam veto forces Queensland to consider more reuse

Queensland’s Traveston Dam proposal has been rejected by the Australian federal government, meaning the state will have to implement alternative water resourcing strategies, including desalination and reuse.

The state is likely to tender for a doubling of the output capacity of the Bundamba and Luggage Point advanced water treatment plants by the middle of...