Sabesp's Paraíba valley investment plan to reach US$326mn

- Tuesday, August 16, 2011

Sabesp's Paraíba valley investment plan to reach US$326mn

Brazil's São Paulo state water utility Sabesp (Bovespa: SBSP3, NYSE: SBS) will invest 520mn reais (US$326mn) in its plan to achieve universal water and sanitation coverage in the Paraíba valley by 2014, a company spokesperson told BNamericas.

"The company has earmarked an additional 255mn reais, adding to some 265mn reais in work that has already been contracted," the spokesperson said, without providing details of the new projects.

The Paraíba valley includes 24 municipalities. Sabesp's investment will go to São José dos Campos, Campos do Jordão, Queluz, São Bento do Sapucaí, Guararema, Caçapava and Lavrinhas, among others.

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Of the 265mn reais in contracts that have been allocated, 141mn reais in work has started, according to the spokesperson.

Work underway includes phase I of the Pararangaba basin cleanup in São José dos Campos, budgeted at 101mn reais. Another 24mn reais is being invested in the same city to improve water supply.

Sabesp is also spending 106mn reais to expand wastewater collection and treatment in the city of Campos do Jordão and 14.9mn reais on a sewerage system for Queluz.