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Last Selangor water concession nears nationalisation

Air Selangor, the public water operator in Malaysia’s Selangor state, has offered to buy out Syarikat Pengeluar Air Sungai Selangor (SPLASH) – the state’s last remaining water concessionaire – for MYR2.55 billion ($625.2 million).

SPLASH is 40% owned by listed engineer Gamuda, 30% by Selangor state company KPS, and 30% by a local businessman...

Besix expands PPP portfolio with Sharjah deal

Infrastructure group Besix has secured its third wastewater concession in the Middle East, taking over ownership of the Saja’a wastewater treatment plant in Sharjah, UAE, as part of a consortium with state-owned local development body Shurooq.

The joint venture, known as Qatra, will own and operate the plant for 25 years under the concession agreement, as well as...

Apollo puts up $200m for Wyoming midstream water

Private equity firm Apollo Global Management has made a $200 million equity commitment to newly-created oilfield water midstream company Freestone Midstream Holdings.

Denver-based Freestone was set up to identify targets for the acquisition and development of water midstream assets in Wyoming’s Powder River basin, which has been the subject of renewed activity by...

Xylem shares surge on promising quarterly results

Xylem’s shares closed up 9.3% at $76.56 on Tuesday after the water technology company reported quarterly revenues up eight per cent organically versus the same period last year (to $1.3 billion), with its water infrastructure segment alone witnessing 11% organic growth (to $546 million).

Xylem partly attributes this increase to high single-digit growth in the...

Investors unconvinced by ‘strong’ Veolia results

Shares in French water and waste giant Veolia slid 3.5% to close at €18.88 yesterday, despite what the company described as “very strong” first-half results for 2018.

Double-digit percentage growth in global markets meant first-half revenues of €12.6 billion were up 6.0% at constant exchange rates compared to the previous year’s figures...

Veolia promotes internally and spooks investors

Veolia has announced four promotions as two key members of the executive committee depart. Estelle Brachlianoff, previously in charge of the UK and Ireland, is replacing François Bertreau who is retiring as chief operating officer. Claude Laruelle, who has been running the Global Enterprises business, which includes Veolia Water Technologies, will become finance...