Aguas del Gran Buenos Aires SA

Cancelled

In November 1999 the governor of Buenos Aires Province awarded a 30 year concession to Aguas de Gran Buenos Aires (AGBA) for the operation of the water supply and sewerage services in the “zone two” region of Buenos Aires Province. The zone 2 area had a total population of 1.7 million people living in seven departments: Merlo, Moreno, San Miguel, General Rodriguez, Escobar, Malvinas Argentinas y Jose C Paz. Through the concession contract AGBA committed to invest around US$ 320 million in the first five years of the deal to expand the existing infrastructure. Investment commitments for the whole concession period were estimated to be US$ 647 million. AGBA was created as a joint venture between Spanish enterprise Aguas Bilbao Bizkaia, Argentinean Sideco, and Italian Impregilo. At the end of 2005 the shareholders of AGBA were: Italian company Grupo Impregilo (43%), Spanish Grupo Dragados (part of the ACS Group from 2003 - 27%) and Spanish Aguas de Bilbao Bizkaia (20%). The remaining 10% of shares were held by AGBA employees. On July 21st, 2006, the government published a decree stating that AGBA's concession was cancelled. The Argentine state-owned water company Aguas Bonarenses SA (ABSA) assumed control of the services previously provided by AGBA. None None