Itapoa Saneamento

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In February 2012, the Brazilian companies CAB Ambiental (50%), a subsidiary of Galvao Engenharia Group, and Serrana Engenharia Ltda (50%) were awarded the 30-year concession contract to expand, rehabilitate and operate the water and sewerage facilities of the municipality of Itapoa located at the state of Santa Catarina. Located in a tourist area, the population of Itapoa was estimated at 13,000 (70,000 during the summer season). At the time the contract was awarded, the city had a water coverage ratio of 98%, but no sewerage treatment facilities. The sponsors were awarded the contract by offering the best technical and economic package. Two other companies took part in the contest: Saneter Construtura and Grupo Aguas do Brasil S.A. The contract was signed in October 2012, and the private sponsors took over the operations of the sewerage services in the same month. The special purpose company Itapoa Saneamento was formed as the project company. The company committed to invest US$ 38.2 million (BRL 90 million) over the life of the project. The performance target was established as 100% for water services coverage and 30% for sewerage services coverage by 2017. The company agreed to construct two new water and sewerage facilities.