2005 - 2006 - Pinsent Masons Water Yearbook 2012

FRANCE PART 3 (i): COMPANY ANALYSIS: MAJOR PLAYERS
2001 Latina 30 year concession 600,000 water and wastewater
ATO de Latina covers Southern Lazio’s ATO-4, serving 38 communes. A consortium of VE (40%),
Enel (23%) and Acquedotto Pugliese (23%) gained the concession in July 2001, after the tendering
process had been held up by a dispute over the scoring system. The concession will be worth €2
billion over its operating life. UFW needs to be decreased from 70% to 25-30% and major sewage
treatment upgrades are also required. A further 500,000 tourists use the area.
2001 Calabria 30 year concession 752,000 water and wastewater
VE and Acquedotto Pugliese hold 49% of Societa Risorce Idriche Calabresi (So Ri Cal), serving the
region of Calabria. The concession became operational in 2002 and involves Lira800 billion of capital
spending over its life, mainly during the first 8-10 years.
Gruppo Camuzzi
Camuzzi was founded in Milan in 1929. In October 2001, Mill Hill NV, the Dutch holding company of
the Garilli family, sold 40% of its 100% holding in Gruppo Camuzzi to Enel for €434 million. In March
2002, Enel bought the rest of Camuzzi for US$870 million from Mill Hill NV. The company is
principally engaged in gas services. In 1997, Camuzzi gained a 20 year concession contract for water
and wastewater services for the town of Massa, serving 44,051 and 30,379 people respectively.
Camuzzi's subsidiary Gazometri in total manages 5 concessions in Lombardy, Tuscany and Abruzzo
and supplies 40,195 customers. 6% of the group turnover in 1999 was in environmental services.
Argentina
1994/1996 Balacarse & Laprida 20 year concessions 45,000 water and wastewater
The concessions cover two towns in the Buenos Aries region. Camuzzi holds 100% of Aguas de
Laprida and 70% of Aguas de Balacarse. The concessions serve a total of 17,835 customers.
US$3.54 million has been spent on infrastructure development since 1994, with a 2001 turnover of
US$1.74 million.
Hungary
VE aims to increase its share of the market in Hungary from 20% to 50% in the medium term.
1994 Szeged 15 year concession 175,000 water & sewerage
The Szeged contract had an Fl1.16 billion turnover (F40 million) in 1995. The 15 year contract was
awarded to VE’s 100% held subsidiary Servitec, which holds 49% of Szegedi Vizmü, the holding
company for the contract. Currently 60% of the city is connected to the sewerage network. The
contract was gained after VE had been awarded a F200 million water treatment plant construction
contract in 1992. The company has been profitable since 1996 and water consumption has been
reduced by targeting leakage, installing meters and a progressive pricing policy.
1997 Budapest 25 year concession 1.9 million sewerage
The management company formed by VE (35%), BWI (35%) and EBRD (30%) took a 25.1% stake in
Fövarosi Csatornásási Müvek Rt., Budapest’s wastewater company. 90% of the city’s population of
2.2 million is currently connected to the sewerage network. Approximately 2.4 million people will
ultimately be served by the contract. 200 million m 3 per annum of sewage are treated at two plants,
40% to tertiary standard against 20% in 1997. FCSM has a turnover of €75 million per annum.
China
VE’s consolidated revenues in China were €350 million in 2003. It is by some way the fastest growing
market VE is involved in and is set to become VE’s largest international water services market in the
medium term. VE currently has 16 contracts, serving some 18.6 million people in China.
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Pinsent Masons Water Yearbook 2005 – 2006