Anglian steps up foreign moves
Sunday 14 December 1997
The company has been slower off the mark than some of its peers to expand abroad. However, over the last 12 months it has beefed up its international business team and is currently bidding on around 12 projects from Australia to Panama, according to Chris Mellor, Anglian's newly appointed managing director.
The planned increase comes as municipalities and governments, in particular those in developing economies, consider privatising the management of their water and sewerage infrastructure in the face of rising costs.
"If the international businesses are not earning 10 per cent of group pre-tax profit by then (2005) then we'd be asking, is it worth it," Mr Mellor said. "I think that level is perfectly possible."
The World Bank estimates $600bn (pounds 364bn) to $800bn needs to be spent in the next decade to upgrade existing systems and provide basic water to the world's population, 1.7 billion of whom lack sanitation and 1 billion of whom have no running water.
"The market is there and there aren't many competitors," Mr Mellor said.
On 3 December Anglian submitted a bid to build and operate a water treatment works at Laguna Alta outside Panama City. If it is successful it will be well placed to bid for other contracts should the Panamanian government decide to privatise existing assets.
Mr Mellor said the company is considering strategic alliances with one or more large non-UK infrastructure companies, which possess project finance skills and have contacts in a range of countries. "If we are going to make a step change we may get there quicker if we link ourselves to major strategic partner or partners."
He said it would be several months before Anglian might be in a position to make an announcement. "All we are doing is talking to people with that objective," he said. He declined to specify with which companies Anglian has talked.
Copyright: IOS & Bloomberg
- 1 Planes go hybrid-electric in important step to greener flight
- 4 Hip hop is both racial and political, and for Iggy Azalea to suggest otherwise is insulting
- 5 Man hospitalised with pneumonia after downing eggnog at office Christmas party
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Orphan kangaroos spend Christmas without their parents
Northern Lights above Britain: Stunning Aurora Borealis illuminates Northumberland sky on Christmas Eve
New route to Mars could make manned mission much cheaper and easier
Isis 'did not shoot down Jordan war plane' before capturing pilot, says US
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...