Sat, Feb 04 2012

United Utilities to grow Bulgarian operations

Wed, Jul 22 2009 17:32 CET

byDnevnik.bg

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United Utilities to grow Bulgarian operations

Photo: Мария Съботинова

British water company United Utilities, the concessionaire for Sofia’s water supplies, will expand its Bulgarian business and does not plan to shed its assets on the market, said Ivan Ivanov, executive director of Sofiyska Voda, the water utility servicing the Bulgarian capital city, which is majority-owned by the UK firm.

The statement comes only days after British newspaper The Independent reported that United Utilities is reviewing a key division of its business, which could lead to a sale worth more than 800 million pounds later this year.

Ivanov said that in a letter to its Bulgarian division, the British company has dismissed all reports, adding that the company will bid in a concession procedure to supply water and sewerage services to consumers in Sofia regions and other major cities.

Sofiyska Voda will pour 52 million leva into the overhaul of its Sofia water and sewerage network this year, which is double last year’s 25.4 million leva. A total of 21.3 million leva of the total was already absorbed by the end of June, said Dragomir Simidchiev, capital construction head at the company. He pledged that by the end of the year water will flow smoothly to Sofia’s upscale suburbs of Dragalevtsi, Simeonovo, Lozen, Bistritsa, Boyana and Bankya.

Water prices will stay as they are by the end of the year but will go up in the range of eight to 10 per cent next year to be adjusted to inflation, Ivanov said.

Source: Dnevnik.bg

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