5 items tagged "Portugal"

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A private equity fund buys Indáqua

Category: Press Releases
Created on Friday, 01 February 2019 16:20

Translation in English of a STAL (Sindicato Nacional dos Trabalhadores da Administração Local e Regional, Empresas Públicas, Concessionárias e Afins) press release.

Lisbon, 1 February 2019

STAL denounces the public water trade

In 2016, the portuguese construction group Mota-Engil, majority shareholder of Indáqua, the other shareholder being the German insurance group Talanx, sold its stake to the Israeli group Miya for € 60 million.

After three years, Indáqua, one of the largest private water service concessionaires in our country, is the target of a new transaction, bought this time by the International Private Equity Fund, Bridgepoint, ignoring the amounts involved in this business.

A business which, as STAL has always denounced, confirms that the financialization and growing dominance of foreign capital in the water sector, an inseparable consequence of privatization, would be a matter of time, as in all sectors open to privatization.

STAL welcomes water remunicipalisation in Mafra

Category: Country & City Focus
Created on Monday, 12 December 2016 14:46

Press release - December 11th, 2016

The municipality of Mafra, which was the first municipality to privatize water and sanitation services in Portugal, makes it precisely 22 years ago, decided on last 9th od december, unanimously, to terminate the concession agreement with Be Water.

The decision was taken after the private operator submitted a request for tariff increases of 30 percent, which was considered "unacceptable,", said the municipality in a statement.

In order to carry out the redemption of the concession, the municipality promoted an economic-financial and legal study, concluding that full municipal management of services will reduce tariffs by up to five percent, and therefore, instead of a worsening, domestic consumers may benefit from a reduction in the water prices.

Is Cash-Strapped Portugal Using Austerity as an Excuse to Privatise Water?

Category: News from the Ground
Created on Friday, 12 June 2015 06:52

Water privatisation is once again a topic of debate in Portugal. The subject was recently discussed in the Portuguese parliament, where the leader of the The Greens party, Heloisa Apolonia, accused the government of “withdrawing its promises on the water sector”.

Minister of Environment Jorge Moreira da Silva has assured that authorities will not privatise Águas de Portugal (ADP), the national company that manages water supply in the country. However, the minister is supporting the restructuring of the treatment system and water supply — which includes raising tariffs in the coastal municipalities to reduce prices in the interior of the country — to ensure its “economic and financial sustainability.”

Local councilors fear that this restructuring is a step to privatise this essential commodity in the same way the country's urban waste management company fell into private hands in 2014. The country's high levels of debt put it at the mercy of foreign capital, making it more vulnerable to privatisation.

But the minister has rejected this theory, saying that the reform implemented avoids this scenario. Moreira da Silva says the plan will lead to greater equity in the cost of water across the country.

Read more on the website of GlobalVoice

Water concessions detriment to the public good

Category: News from the Ground
Created on Tuesday, 04 March 2014 21:19

Statement by The National Union of Local and Regional Government Workers (STAL)

Portuguese Court of Auditors uncovers profiteering in the water sector

An investigation by the Court of Auditors has uncovered the true consequences of private management of the water sector: private companies pocket hefty profits whilst residents and local authorities are left to pick up the bill.

A report published on 27th February by the Portuguese Court of Auditors into Public Private Partnerships (PPPs) in the water sector vindicates STAL’s ongoing struggle to expose the consequences of privatising public services in the water and sanitation sector. It shows how detrimental these deals are both for local authorities and ordinary citizens, who are forced to pay all the costs whilst private companies pocket hefty profits.

Água é de todos

Category: Country & City Focus
Created on Sunday, 23 September 2012 20:36

Lançada inicialmente em 2008, a Campanha “Água é de todos” foi relançada no passado dia 29 de Julho por 10 organizações que constituem a Comissão Promotora. Alargando-se a mais de cem organizações e movimentos, a Campanha é hoje um espaço incontornável em defesa da água pública.

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