Marubeni acquires stake in water business in Peru
LIMA, Peru, July 27, 2009 -- Marubeni Corp. has acquired a 29% stake in Consorcio Agua Azul S.A., which operates a water treatment BTO* project in Lima, Peru...
LIMA, Peru, July 27, 2009 -- Marubeni Corp. acquired 29% stake in Consorcio Agua Azul S.A. (CAA) who operates water treatment BTO* project in Lima, Republic of Peru, from the fund managed by AC Capitales SAFI S.A.
After the enactment of privatization Law in 1992, the private capital including foreign capital has been introduced and the private initiative for infrastructure related project is also promoted with the growth of the Peru economy in recent years. CAA was established in March, 2000 as the special purpose company for the first private initiative waterworks in Peru. CAA manages operation and maintenance of the water treatment plant (Capacity: 216,000m3/day), intaking the raw water from Chillon river for 18 years from now on and provides treated water to Water & Sewage Service Public Corporation in Lima for 800,000 population in northern Lima.
In October, 2006, Marubeni acquired the 100% stake in Aguas Decima who provides full water and wastewater services in Valdivia city, southern part of Chile, and CAA is the 2nd water project in the South American Continent.
Marubeni strives for the improvement of corporate value of CAA by utilizing the experience of Aguas Decima. Moreover, Marubeni will seek the opportunity of the new water project in Peru by utilizing know-how of water service in Peru accumulated through CAA and to develop and enhance the activity even in neighboring South American countries.
* BTO: The abbreviation for Build-Transfer-Operate (after the construction of plant, the ownership is transferred to the client and the operation and maintenance of plant is performed under the exclusive concession right for long time)