Copasa to invest US$93mn in waterworks in 2015

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Wednesday, November 19, 2014

Brazil's Minas Gerais state water utility Copasa plans to invest 242mn reais (US$93.2mn) in waterworks projects to be carried out in 2015, according to the minutes of a board meeting.

Copasa allocated 140mn reais to purchasing equipment and 30.9mn reais for a 12-month contract to acquire 477,301 water meters.

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In addition, the Brazilian firm will seek consultants to carry out technical studies and basic engineering for its water services department. The 71.4mn-real, 36-month contract is part of Copasa's 2015-17 investment program.

The company earmarked a total of 1.18bn reais for waterworks initiatives this year. Some 980mn reais will go to the company, while subsidiaries Copanor and Copasa Águas Minerais de Minas will receive 200mn reais and 400,000 reais in financing, respectively.