2005 - 2006 - Pinsent Masons Water Yearbook 2012

SPAIN PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
OHL
OHL is a Spanish construction company which was formed as a result of the mergers of Obrascon
and Huarte in 1997, along with Construcciones Lain in 1999. In 2001, OHL acquired Inima a company
specialising in water and waste management engineering that has also developed a number of BOT
water and wastewater concession contracts for municipal customers.
Y/E 31/12 (€ million) 2002 2003 2004
Turnover – services 231.8 239.4 214.9
Total turnover 1,772.0 2,111.8 2,230.1
Operating profit 73.5 143.0 163.0
Net profit 42.1 48.5 57.4
EPS (€) 0.47 0.54 0.54
Inima Servicos Europeos de Medio Ambiente SA, had revenues of €79.3 million in 2003, with a long
term order backlog of €1,129.8 million. In 2003, the company decided to sell its water treatment
activities in order to concentrate on wastewater treatment and desalination engineering and
concessions. Water and wastewater concessions generated revenues of €35 million in 2003. At the
time, Inima served some 1.6 million people. Inima is responsible for a third of Spain’s desalination
capacity.
Spain
2000 Trapiche 20 year BOT 300,000 water
The €20 million EM SER Trapiche plant treats 146,880m 3 of water per day, serving the Axarquia
district of Malaga. Inima is currently selling this concession.
1996 Cadiz 25 year concession 350,000 wastewater treatment
A 24 year concession after the facility entered service in 1997. The AIE Cadiz-San Fernando facility
treats 75,000m 3 of wastewater per day, serving Cadiz and San Fernando.
Other desalination BOT projects in Spain:
Location/Client Capacity Construction Operation
Carboneras/ACUSUR 120,000m 3 /day 2000-01 2001-25
Marbella/Decosol 55,000m 3 /day 1996 1996-16
Brazil
2003 Robeirao Petro 16 year concession Wastewater treatment
The two wastewater treatment plants were built by OHL and are to be operated by Inima until 2019.
The concession company is Ambient (Servicos Ambientais de Riberao Petro SA). Inima holds 74% of
the concession, which involves a total investment of €35 million.
Desalination concessions
Chile Antofagasta Desalant 20 year BOT, 2003-23
Chile Arica Desalinizadora Arica 10 year BOT, 1998-08
Mexico Los Cabos Promoaqua Desalacion de LC 20 year BOT, 2003-23
Spain Churriana de la Vega Inima 24 year BOT, 123,000m 3 /day
USA Brockton, MA Aquaria Water LLC 20 year BOT, 2005, 22,500m 3 /day
The Antofagasta plant cost US$54 million and currently provides 13,000m 3 of water per day, which
will be expanded to 52,000m 3 per day by 2010. It will provide 70% of the city of 300,000’s water
needs.
326 Pinsent Masons Water Yearbook 2005 – 2006