The Catalan Government privatises Greater Barcelona’s water supply to reduce the public deficit
The Catalan Government awarded Acciona’s joint venture the contract to manage Aigües Ter Llobregat (ATLL), the public company supplying drinkable water to an area of 5 million people. Acciona, a Brazilian investment bank, and other companies will pay €300 million in 2012 and €700 million within the next 50 years to run the concession. Privatising ATLL was a measure announced months ago, as part of the Catalan Government’s austerity plan to reduce its deficit in order to meet the imposed deficit targets. According to the press release, Acciona’s joint venture has been awarded the 50 year contract because “it offers a better price for the water” than the rival group of companies lead by the Catalan Agbar.