Aguas das Agulhas Negras

active

In January 2008, Aguas das Agulhas Negras began operating the water and sewerage utility of the municipality of Resende city in Rio de Janeiro state under a 30-year concession contract. In addition to meeting quality standards set in the contract, Aguas das Agulhas Negras was to improve and expand the water and sewage facilities by upgrading treatment plants and expanding its distribution network. Aguas das Agulhas Negras was a special purpose vehicle of the operator Grupo Saneamento Ambiental Aguas do Brasil SA, a subsidiary of three Brazilian Companies: Construtora Queiroz Galvao, Carioca Christiani-Nielsen Engenharia SA and Trana Construcoes Ltda. Aguas das Agulhas Negras was awarded the concession contract by the municipality of Resende. Further information on tendering was not publically available. The total cost of the project was estimated at 136 million reais (US $74.2 million) for the 30-year concession. Figures converted based on the market rate, period average for 2008 published by the IMF.