2005 - 2006 - Pinsent Masons Water Yearbook 2012

FRANCE PART 3 (i): COMPANY ANALYSIS: MAJOR PLAYERS
SAUR (France) / PAI (France)
Société d’Aménagement Urbain et Rural (SAUR) was founded in 1933, making it the last of the major
French water companies. Bouygues acquired SAUR in 1984. SAUR has been associated more with
small towns and rural municipalities than either Suez or Veolia Environment (VE). Bouygues sold
SAUR (net of its Italian and African acivities) to PAI Partners, the French private equity house in
January 2005.
SAUR water services revenues (prior to its break-up)
SAUR (€million) 2003 2004
Saur France 1,399 1,431
Saur International 726 648
Total 2,125 2,079
The new entity, including Steerau (water engineering in France and internationally) and Coved (waste
management services in France) had a consolidated turnover of €1.3 billion in 2004. Post the
divestment the Italian and African activities, 93% of SAUR’s 2004 revenues came from France (65%
Saur, 21% Coved & 8% Stereau).
SAUR, population served
Country Water Sewerage Total
France 6,000,000 6,000,000 6,000,000
Argentina 1,140,000 950,000 1,140,000
China 3,500,000 0 3,500,000
French Overseas Territories 359,000 14,000 359,000
Poland 502,000 505,000 505,000
Scotland 0 400,000 400,000
Spain 2,210,000 700,000 2,210,000
Total – Outside France 7,711,000 2,569,000 7,714,000
Global total 13,711,000 8,259,000 13,714,000
France
In France, SAUR provides water and sewerage services to 6 million people, serving 6,500
communities with water supply and sewerage services through 5,300 water and sewage treatment
contracts. Cise was acquired in 1997 and served approximately 3 million people, mainly for water
alone and contributed F3.2 billion in 1996. Customer numbers rose by 1.5% and prices by 1.5% in
2000. In September 2000, Cise was renamed SAUR France.
UK – Scotia Water
1999 Dalmuir, Glasgow 25 year PFI BOT 600,000 PE sewage treatment
Scotia Water (SAUR UK/Stereau (SAUR), Innisfree, Taylor Woodrow, Barr & Halcrow) are to construct
the replacement of Glasgow West’s sewage treatment works, built in 1904. The new Dalmuir facility,
offers increased effluent handling capacity and an appreciably higher degree of treatment. Stereau
was paid €21 million for hardware and SAUR receives €2.5 million per annum for the operational life of
the contract.
Spain
In Spain, SAUR holds 32% of Aguas de Valencia (AgVal). SAUR's EMALSA (€46 million
unconsolidated turnover in 2003), Gestagua (€29 million unconsolidated turnover in 2003) and AgVal
serve water to 2.2 million people and sewerage to 700,000 people (see separate entry for AgVal).
EMALSA and Gestagua had a consolidated turnover of €45 million in 2003 and €48 million in 2004.
AgVal’s water provision contract for Valencia was renewed for 50 years in 2002. It has been in
operation since 1904 and covers 780,000 people.
EMALSA is a JV run between SAUR, Endesa of Spain and the Las Palmas municipality, which
provides water via three desalination plants to a total of 374,000 people and sewerage and sewage
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Pinsent Masons Water Yearbook 2005 – 2006