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The Process of Privatizing The Canal Isabel II

Category: Country & City Focus
Created on Wednesday, 22 August 2012 15:01

Update on the current situation

On 30th May, the Madrid government announced its decision to give up for the time being, the privatization of the Canal Isabel II. Due to the actual economic situation posing an obstacle to its sale to private companies. However, it still announced the creation of a 100% public limited company, called Canal de Isabel II Gestión SA to manage the full cycle of water.

On the 6th of June, the board of directors of Canal Isabel II approved the establishment of the new company, signed off the inventory of assets and statutes of the new company and its program of activity, even though the vote was opposed by the company’s work council, a representative body of workers and management. Its members had not received sufficient information to formulate a position on the establishment of the new company.

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