Prolagos

active

In 1998, the Prolagos consortium was awarded a 25 year contract to operate the water and sewerage services for the Regiao dos Lagos in the country side of the State of Rio de Janeiro. With a winning bid was US$ 18.8 million, Prolagos started the operation of the services in July 1998, serving a population of 220,000 (although during the summer the population served raised to 700,000 because of tourism). Prolagos was originally controlled by a consortium comprising Monteiro Aranha (32.5%); Planup –controlled by Bozzano Simonsen, 80%, and Erco, 20% - (40%); Pem Engenharia (20%); and the Portuguese company Aguas de Portugal (7.5%). In December 2000, Aguas de Portugal acquired the shares of the other sponsors in the project, and became the owner of 100% of Prolagos' shares. In 2007, Brazilian Grupo Equipav acquired Prolagos from Aguas de Portugal. In 1998 Prolagos committed to invest US$ 197.8 million (R$ 230 million) over the life of the concession in rehabilitating and expanding the services in the region (until Dececember 1998, US$ 11.1 million has been already invested; and until December 2003, US$ 40.2 million). Financing for the project has been raised from the state-owned development bank, BNDES. In January 2012, an additional US$ 29.5 million (BRL 57.6 million) loan was granted by BNDES to finance the expansion of the water and sewerage services.