The sharp depreciation of the national currency against the euro and the dollar caused losses worth some €10.6 mln, given that Apa Nova is paying interest rates for foreign currency-denominated loans, while revenues are in lei.
Apa Nova, controlled by French Veolia group, signed a 25-year contract in 2000 with Bucharest City Hall to manage the city’s water and sewage systems. It plans to renegotiate the contract, to adjust this to Bucharest’s development.
As of 1 October 2008, Apa Nova has a new General Manager, Bruno Roche.
