Kavaja water and wastewater

concluded

In February 2003 the municipality of Kavaja signed a four year performance based management contract with German utility company Aquamundo. The contract gave Aquamundo management rights over local company U.K. Kavaja, the sole water and wastewater utility in the town of Kavaja at the time. The town had some 35,000 inhabitants in 2003. Aquamundo was selected as preferred bidder for the project in July 2002, after a competitive tender. In February 2003 the contract was signed, giving Aquamundo full operational, maintenance and management rights over U.K. Kavaja for four years. The private operator’s remuneration was divided into a fixed payment component and a success-oriented component. The management contract ended in June 2007. The project was expected to cost some $1.07 million (1 million Euros). Financing was provided by Germany’s Kreditanstalt für Wiederaufbau (KfW) under the German-Albanian development cooperation program. AquaMundo was 66% owned by Saudi pipe maker Amiantit Group, through its water projects subsidiary AmiWater. None None