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 Enrique Iglesias injured trying to catch a drone mid concert
- 2 Caitlyn Jenner, formerly Bruce Jenner, reveals new look on Annie Leibovitz shot Vanity Fair cover
- 4 Man on naked bike ride gets ejected after becoming aroused
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Why this year's general election was the most unfair in Britain's history
iJobs Money & Business
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...
£25 - £30K: Guru Careers: We are seeking a highly-motivated and ambitious Comm...
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...