Aguas de Itu

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On October 4, 2007 Aguas de Itu Exploracao de Servicos de Agua e Esgoto SA (Aguas de Itu) began operating the water and sewerage utility of the municipality of Sao Paulo under a 30-year concession contract. In addition to meeting quality standards set in the contract, Aguas de Itu was to restore, improve and expand the water and sewage facilities by: constructing three new dams to increase the uptake of water, using computerized billing and collection systems, and constructing and operating an Operational Control Center. Additionally, it expressed the goal of becoming a role model for other concessions. Aguas de Itu was owned by Grupo Equipav [Brazil, 100%]. Aguas de Itu was awarded the concession contract by the municipal tourist office of Itu. Further information on tendering was not publically available. The total cost of the project was estimated at 113.7 million reais (US $58.3 million) over the 30-year concession. Of the total investment commitment, 51.1 million reais (US $26.2 million) was to be invested during the first three years of operation. Figures converted based on the market rate, period average for 2007 published by the IMF.