Apa Nova: Bucharest’s water consumption in 2008 to stagnate

“The consumption of water will be the same as last year. No new elements point to a spectacular rise in turnover,” said Deputy General Manager, Epsica Chiru.

According to Chiru, water consumption will increase with Bucharest’s expansion in the next two years. Apa Nova has a production reserve of some 20 percent.

Chiru said the company will invest some €28 mln in 2008 to rehabilitate and expand water networks. Apa Nova is one of the most profitable businesses on the Romanian utility market.

Company representatives say that Bucharest’s entire water network should be replaced. Apa Nova opened a €55 mln treatment plant at Crivina, and the cumulated value the company’s investments was some €160 mln in the past six years. Main Apa Nova shareholders are Veolia Eau with 83.69 percent, and the water division of the Veolia Environnement group and Bucharest municipality the remaining 16.31 percent.