Yerevan Water and Sewerage Lease Contract

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In December 2005 the government of Armenia awarded a ten year lease contract to Veolia Water for the operation and management of the Yerevan Water and Sewerage Company (YWSC), the water utility of Yerevan. The contract covered managing all the water production, distribution, wastewater collection and customer service. The total population served by the project was approximately one million inhabitants in Yerevan, the capital city of Armenia. Under the lease contract Veolia Water was fully responsible for the management, operation, and maintenance of the water and sewage system in Yerevan Water’s entire service area. Technical and operational performance criteria were defined in the contract. Veolia Water was expected to generate total revenues of $192.4 million (160 million euros) over the contract’s lifetime. The lease contract was awarded through an international bidding process which Veolia won by requesting the lowest tariffs. The contract also gave the lessee the responsibility to execute an investment program designed to provide the city of Yerevan with a continuous safe water supply and reduce environmental pollution. The investment program was to be funded by a $20 million IDA loan and some government funds. The 2005 lease was the second the private participation contract granted for YWSC. Previously YWSC was managed by a consortium led by Italy’s ACEA under a contract lasting from 2000 to 2005. Have sent an email to ................... But haven't gotten any reply back. investment figures are from the project portal, disbusement history http://projportal.worldbank.org/servlet/secmain?pagePK=60233&piPK=60346&theSitePK=213348&menuPK=109012&PSPID=P087641&FINCR=IDA&LOAN=40380&Tab=Disbursement