Keep the water running


The Macau SAR Government is allocating a total of nearly MOP144.94 million to the Macao Water Supply Co. Ltd. (Macao Water) through the renewal of a contract for the “placement of the fourth raw water pipe to Macau (MSAR Track),” according to a dispatch published yesterday in the Official Gazette.
The construction is part of a memorandum signed between the Macau SAR Government and the Zhuhai Government in 2014, which includes the project for Pinggang-Guangchang raw water supply security.
The total amount will be paid in two installments, with MOP50 million being disbursed in 2017 and MOP94.95 million the following year.
Established in 1935, Macao Water is currently a subsidiary of SUEZ NWS Limited – formerly known as Sino-French Holdings (Hong Kong) Limited – a joint venture between the French-based water utility Suez Environment (formerly Lyonnaise des Eaux), and the Hong Kong-based NWS Holdings Limited (formerly Chow Tai Fook Enterprises).
SUEZ NWS Limited currently holds an 85 per cent equity share in Macao Water.
The company was awarded the renewal of the “Extended Contract for the Concession of the Public Utility Service of Water Supplying in the Macao SAR” in 2009, valid for 20 years until July 2030.
Macao Water’s preliminary results saw a 6 per cent decline in profit for 2016, amounting to some MOP65 million, due to “water demands not meeting our original target,” the group’s Executive Director, Nacky Kuan told Business Daily previously. Additionally, the completion date for the group’s planned Seac Pai Van water plant has been pushed back to end-2019, while construction is expected to begin in the second half of this year.