Coastal cities water utility management contract

concluded

In 2001 Aquamundo, a subsidiary of Amiantit Group signed a management three year management contract with the government of Montenegro for Monte-Aqua, a public/private partnership for water utility management which was formed by merging the assets of (i) Aquaregia Public Company, created by merging water companies of Ulcinj, Bar, Budva, Tivat, Kotor, Herceg Novi, and Cetinje and the Montenegrin Seaboard Regional Network Public Company. Under the agrement, Monte-aqua would rehabilitate, upgrade, extend and manage the water supply and sanitation services of the area under its responsibility. Phase I of this program was obtained financing from KfW and GTZ (approximately US$7.25 million) for technical assistance and urgent investments in rehabilitation and improved operation. The contract concluded in 2003. None None