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Water Privatisation and Restructuring in Latin America, 2007

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Water Privatisation and Restructuring in Latin America, 2007 Public Services International Research Unit (PSIRU) www.psiru.org part of The Business School Water privatisation and restructuring in Latin America, 2007 by Emanuele Lobina and David Hall PSIRU, Business School, University of Greenwich [email protected]; [email protected] September 2007 A report commissioned by Public Services International (PSI) www.world-psi.org 1. INTRODUCTION ....................................................................................................................................... 4 2. COMPANIES ............................................................................................................................................... 4 2.1. THE RETREAT OF THE MULTINATIONALS ................................................................................................ 4 2.1.1. Multinationals which remain in Latin America 2007 ................................................................... 4 Table 1 Multinationals remaining in water in Latin America ............................................................................... 5 2.1.2. Multinationals which have left Latin America .............................................................................. 6 Table 2 Water multinationals no longer present in Latin America ........................................................................ 6 2.2. NATIONAL AND LOCAL PRIVATE SECTOR ............................................................................................... 6 Table 3 South American private companies .......................................................................................................... 6 2.2.1. Latinaguas .................................................................................................................................... 7 2.2.2. South water/Sielecki ..................................................................................................................... 7 2.2.3. Grupo Roggio ............................................................................................................................... 7 2.2.4. AAA (Triple A) .............................................................................................................................. 7 2.2.5. Hidrosan ....................................................................................................................................... 7 2.2.6. Luksic ........................................................................................................................................... 7 2.3. INVESTMENT FUNDS ............................................................................................................................... 8 2.3.1. Ontario Teachers Pension Plan (OTPP) ...................................................................................... 8 2.4. PUBLIC SECTOR ...................................................................................................................................... 8 Table 4 Renationalisation and remunicipalisation of private water contracts ....................................................... 8 2.5. PUPS AND WOPS ................................................................................................................................ 10 Table 5 Partnerships: PUPs and WOPs ............................................................................................................... 10 2.6. POST-PRIVATISATION OWNERSHIP: COUNTRY PATTERNS ..................................................................... 10 Table 6 Ownership changes to privatised water companies in South America, 2007 ......................................... 10 3. ISSUES ........................................................................................................................................................ 10 3.1. BOTS AND OTHER CONTRACTS ............................................................................................................ 10 3.2. IFIS AND PUBLIC FINANCE SUPPORTING PRIVATISATION: SUBSIDIES AND CAMPAIGNS ......................... 11 3.3. REFINANCING INVESTMENTS WITH LOCAL FUNDS: NEGATIVE FDI ....................................................... 11 Public Services International Research Unit (PSIRU), Business School, University of Greenwich, Park Row, London SE10 9LS U.K. Email: [email protected] Website: www.psiru.org Tel: +44-(0)208-331-9933 Fax: +44 (0)208-331-8665 Director: David Hall Researchers: Jane Lethbridge, Emanuele Lobina, Robin de la Motte, Steve Thomas PSIRU University of Greenwich www.psiru.org 3.4. CURRENT CAMPAIGNS: PERU, , OTHER CONTRACTS ............................................................................. 12 3.5. CONTINUING NEGOTIATIONS AND COURT CASES FOR COMPENSATION ................................................. 12 Table 7 ICSID Cases as of September 2007 - http://www.worldbank.org/icsid/cases/pending.htm ................... 12 4. DEVELOPMENTS BY COUNTRY ........................................................................................................ 13 4.1. ARGENTINA ......................................................................................................................................... 13 4.1.1. Aguas Argentinas ....................................................................................................................... 13 Performance and renegotiation .................................................................................................................................. 13 Argentine crisis and international arbitration ............................................................................................................ 13 Termination and the aftermath of Aguas Argentinas‟ exit......................................................................................... 14 Establishment of public water operator AYSA ......................................................................................................... 16 4.1.2. Province of Santa Fe: problems, Suez withdraws and public company takes over .................... 17 Total .......................................................................................................................................................................... 18 4.1.3. Aguas Cordobesas: problems, renegotiation and popular opposition ....................................... 19 4.1.4. Workers-operated public company takes over OSBA in Greater Buenos Aires after Azurix termination ................................................................................................................................................... 20 4.1.5. Workers-operated public company takes over AGBA in Gran Buenos Aires ............................. 21 4.1.6. Tucuman water from private to public ....................................................................................... 22 4.1.7. Mendoza: Azurix quits and Saur considers exit ......................................................................... 23 4.1.8. Aguas de Misiones: Dragados get EIB finance and EU political risk cover .............................. 24 4.1.9. Proactiva’s Catamarca water concession cancelled and to be re-tendered .............................. 25 4.1.10. Argentine-owned concessions: Latinaguas and South Water ..................................................... 25 4.2. BOLIVIA ............................................................................................................................................... 26 4.2.1. Privatisation and renationalisation in La Paz, El Alto .............................................................. 26 Scrutiny of the AISA concession .............................................................................................................................. 27 4.2.2. Privatisation and renationalisation in Cochabamba.................................................................. 28 4.3. BRAZIL ................................................................................................................................................ 30 4.3.1. Suez leaves Aguas de Limeira concession .................................................................................. 30 4.3.2. Manaus concession: Aguas do Amazonas .................................................................................. 30 4.3.3. Agbar leaves Aguas de Guariroba concession in Campo Grande, Mato Grosso ...................... 31 4.3.4. Aguas de Portugal leaves Prolagos concession, Rio de Janeiro lake district ............................ 31 4.3.5. Sanepar ....................................................................................................................................... 31 4.3.6. Sao Paulo’s Sabesp semi-privatisation ...................................................................................... 32 4.3.7. Minas Gerais Copasa semi-privatised ....................................................................................... 32 4.3.8. Goias state Saneago ................................................................................................................... 32 4.3.9. Successful municipal water operations throughout Brazil ......................................................... 33 4.4. CHILE ................................................................................................................................................... 33 4.4.1. Agbar stays in Santiago de Chile’s Aguas Andinas .................................................................... 33 4.4.2. Ontario
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