The Island Newspaper, Ambergris Caye, Belize            Vol. 11, No. 13            March 29, 2001

Features: Search Issues | Read Back Issues | Subscriptions | Merchandise Ordering Information

The Government of Belize has officially announced the privatization of the Water and Sewerage Authority through the sale of shares in the new water company Belize Water Services Ltd. (BWSL). The major investor is CASCAL B.V., a consortium of a British company (BiWater Capital) and a Dutch corporation (Nuon) with a purchase of over 33 million shares valued at $49.6 million or 83 percent of the shares. BiWater is said to have over thirty years experience in the water industry.

    In a Government of Belize release this week, it states "CASCAL has made a binding commitment to improve the management of Belize Water Services Ltd. and to bring with it enhanced technology and investment to improve and expand the water and sewerage services in the urban areas of the country provided for in its Operations License." The company has also been required, under the Water Industry Act, to obtain a (water) Abstraction License for areas previously used as water sources for WASA. Director of CASCAL, Roger Webster, stated that the company was looking forward to the challenges Belize Water Services would take on to improve and expand the water services to the country.

    The Government had earlier announced that the privatized company would be committed to the expansion and improvement of water supply and sewerage services within existing AND future service areas. Although these service areas do not include the current independent rural water systems, CASCAL has been invited to open discussions with rural communities with a view to improving the operations of these rural systems.

    The Belize Social Security Board acquired four million shares, valued at $6 million or ten percent of the share offering. The Government of Belize will retain a "golden share" and Chairmanship of the company's new Board of Directors. Social Security will nominate a director. A total of 1400 Belizeans living home and abroad, including employees of BWSL, purchased almost three million shares valued at $4.3 million or 7.3 percent of the share offering.

    WASA is the third major utility in the country to be sold by the Government of Belize.

Search SanPedroSun.net go!
| AmbergrisCaye.com | Island Info | Community | History | Visitor Center |
Belize News | BelizeSearch.com | Messages |

Copyright © San Pedro Sun. Design by Casado Internet Group

San Pedro Town, Ambergris Caye, Belize News