2005 - 2006 - Pinsent Masons Water Yearbook 2012

SPAIN PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
Tecnicas Valencianas Del Agua
Technicas Valencianas Del Agua (Tecvasa), is a privately held venture company specialising in
tendering for water projects. It is held by Anton Trust SL, Inversiones Americanas del Agua, SA Caja
de Ahorros del Mediterráneo (G.I. CARTERA) SA, Red Control SL, Comercial Virosque SL
(COMVIR), Válvulas Arco SL and G.T. Inversiones y Cartera 2001, SL. The venture was formed in
1999 and has stated that it currently serves a total of 8.5 million people in Latin America. Tecvasa
entered the Latin American market by forming an alliance with Colombia’s Triple A. Tecvasa holds
49% of the Lassa JV (Sociedad Latinoamerica de Aguas y Servicos) and 49% of AAAS Servicos, the
water operations division of Triple A (La Sociedad de Acquducto, Alcantarillado y Aseo de
Barranquilla SA). The company is actively seeking contracts in Panama (LASSA, Latinoamericana De
Aguas Y Servicios S.A.) and Chile (in association with Mendes Júnior y Asociados Chile SA).
Y/E 31/12 (€ million) 2000 2001 2002 2003
Turnover 0.28 1.06 2.26 0.33
Operating profit -0.18 0.11 -0.04 -0.46
Net profit -0.16 0.14 -4.08 0.42
Triple A has revenues of US$74 million and net profits of US$9 million in 2001.
Technicas Valencianas Del Agua, number of people served
Water Sewerage Total
Colombia 1,770,000 1,770,000 1,770,000
Dominican Republic 3,100,000 0 3,100,000
Ecuador 100,000 100,000 100,000
Venezuela 3,500,000 3,500,000 3,500,000
Total 8,470,000 5,370,000 8,470,000
Colombia
1997 Santa Marta 20 year concession 400,000 water & sewerage
2001 Soledad 20 year concession 400,000 water & sewerage
1996 Barranquila 37 year concession 1,370,000 urban services
The Santa Marta district concession (Metroagua SA) covers bulk water provision, sewerage and
waste management services. Barranquila (AAA Servicos SA) is the fourth largest city in Colombia.
The concession encompasses domestic refuse collection (390,000 tonnes pa) as well as water
provision and sewerage services. Water and sewerage coverage are to rise from 93% and 74%
respectively to 99% and 96% during the concession’s life. Until 1999, Agbar had a 43% holding in the
concession company for these contracts. Agbar sold its stakes to Tecvasa and Triple A after disputes
over water tariffs. The Soledad concession involves US$37 million in capital spending on a network
with 75% water and 65% sewerage coverage. Between 2001 and 2004, average delivery increased
from 12 to 18 hours per day. Customers served increased from 42,300 to 72,300 (water) and 32,400
to 62,300 (sewerage).
Dominican Republic
AAA Dominicana SA has an O&M contract serving the western half of the city of Santo Domingo.
Ecuador
Aguas de Samborondón (Amagua CEM) provides water and sewerage services to the city of
Samborondón in Guayas province.
331 Pinsent Masons Water Yearbook 2005 – 2006