In July 2013, Mitsui & Co. acquired a 49% stake in Czech Republic water system operator Severomoravske vodvody a kanalizace Ostrava a.s. (SmVaK). Mitsui’s newly established subsidiary, Mit Infrastructure Europe Ltd. (MIE) acquired the stake from Aqualia Czech, S.L. a subsidiary of Spain Based FCC S.A. SmVaK produces and supplies drinking water to 1.3 million users and owns a 6,000-kilometer supply network along with 41 water and 67 wastewater plants. The price of the acquisition is Û97 million. The Mitsui acquisition follows on the heals of FCC’s (Aqualia) 10 June 2013 agreement to sell its 50% stake in Proactiva Medio Ambiente to its joint venture partner Veolia Environnement for Û150 million.
Report Type: Research Note
Brief research summaries of market development or company strategies.
Sembcorp Presses Independent Water Position
On 20 May 2013, Singapore-based Sembcorp signed a joint venture with Takamul Investment Company, a subsidiary of OOC to develop centralized utility facilities for Oman’s Ad Duqm Special Economic Zone. The CUC is a 65/35 joint venture between Takamal and Sembcorp, respectively. The CUC will provide water, wastewater, power, steam, and logistics. OOC’s refinery and petrochemical facility will serve as the anchor tenant.
