Petropolis Water Company

active

In January 1998, Aguas do Imperador was awarded a 30 year contract to rehabilitate, expand and operate the water and sewerage services of Petropolis. The municipality of Petropolis, in the state of Rio de Janeiro, had a population of 240,000 when the concession was granted. Aguas do Imperador (ADI) was a special purpose vehicle (SPE –Sociedade de Proposito Especifico) formed by Developer SA, Queiroz Galvao, Carioca Engenharia, Construtora Cowan SA and Trana Construcoes Ltda (part of EIT –Empresa Industrial Tecnica- group). ADI commited to invest US$ 89 million (R$ 100 million) over the life of the concession. As of December 2003, the company had invested US$ 15.6 million. Financing for the construction works has been provided by the state-owned development bank, BNDES (US$ 25 million). Aguas do Imperador is a member of grupo Aguas do Brasil, which operates three other concessions through Aguas de Juturnaiba, Aguas de Niteroi and Aguas do Paraiba. The investments realized until December 1999 had increased the water supply from 53% to 64%, while sewerage collection has increased from 45% to 53%. As of December 2003, the percentage of the total sewerage treated had increased to 28%. Aguas do Imperador received technical assistance from a joint UNDP/World Bank - Energy Sector Management Assistance Program (ESMAP). The annual investments undertaken by Petropolis Water Company, were: 1998 – US$ 1.8 million (R$ 2.2 million) 1999 – US$ 23.5 million (R$ 42.6 million) 2000 – US$ 6.5 million (R$ 12.6 million) 2001 – US$ 1.1 million (R$ 2.5 million) None