Spanish Aqualia becomes 80% owner of Georgian water supply company GWP
Georgian Water and Power is a leading company on the water supply market of Georgia and South Caucasus. Photo: GWP.
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Spanish water management company Aqualia has invested $180 million by purchasing 80 percent of Georgian Water and Power, a leading company on the water supply market of Georgia and South Caucasus.
The investment will “significantly facilitate development of the water supply system and qualitative improvement of its management”, Georgian prime minister Irakli Garibashvili said at today’s online meeting with Aqualia Executive Director Felix Parra Mediavilla and Chairman and Chief Executive of Georgia Capital (20% shareholder of GWP) Irakli Gilauri.
In comments from the Spanish company, Mediavilla said he was happy to bring long-term investors in Georgia, as “the company’s human capital, professionalism and depth of expertise will bring great success to the country in the future.”
Georgia’s leading positions in the world ranking in terms of ease of doing business and economic freedom were also highlighted at the meeting. Photo: gov.ge.
Aqualia is the fourth-largest water supply management company in Europe and ninth in the world in terms of population served, according to the latest Global Water Intelligence ranking from March 2021. The company currently serves nearly 30 million people in 17 countries.
Focus was also made on the EU-Georgia Association Agreement, along with the Deep and Comprehensive Free Trade Area and Free Trade Agreements with China, EFTA nations, Ukraine and CIS countries, which let investors gain exposure to multi-million consumer markets through the country.
Employees of Georgian Water and Power (GWP), one of the leading water supplier companies in the South Caucasus, have gone on strike complaining about working conditions and demanding an increase in salaries. The employees on strike told Formula TV that they don’t have health insurance and the company management does not allow them to use free vacation provided by the Labor Code.
Making investments and launching economic projects between Spain and Georgia will soon become easier.
Water metering challenges in Georgia and the identification of the needs within the European Union programme EU4Environment – Water Resources and Environmental Data were discussed during a meeting between the Agriculture Ministry, parties involved in the programme and experts on Thursday.
David Narmania, the Head of the Georgian National Energy and Water Supply Regulatory Commission, on Tuesday said there was “no basis” for increasing tariffs for electricity and natural gas in the country.
Irakli Beraia, the head of the defence and security committee of the Georgian parliament on Saturday said deepening cooperation with Spain, “especially” at the parliamentary level in both bilateral and multilateral formats, including within the framework of the NATO parliamentary assembly, had been “very important” for Georgia.
Locals of three villages of eastern Georgia's Kakheti region will enjoy round-the-clock supply of clean water starting in the first half of this year thanks to a ₾7 million ($2.65mln) project being implemented in the locality, the United Water Supply Company of Georgia said on Tuesday.
Locals of three villages in eastern Georgia's Kakheti region will receive 24-hour water supply thanks to a ₾17 million ($6,428,346) project in the locality, the United Water Supply Company of Georgia said on Thursday.