Bucharest Mayor and Apa Nova Bucharest sign contract addendum

Bucharest Mayor, Sorin Oprescu, and the General Manager of Apa Nova, Bruno Roche, yesterday signed an appendix to the contract by which Apa Nova provides water and sewer services to the City of Bucharest. Apa Nova pledged to expand the water and sewer network over the course of the coming years, and to waive the penalties for the amounts it is owed by RADET. The French company will provide technical assistance for the Glina waste treatment station, will maintain and exploit the city"s public fountains, 60 drinking fountains and 34 fire hydrants.

Sorin Oprescu said, in a press conference, that the mayoralty agreed with Apa Nova that the latter would invest EUR 70 million for the rehabilitation of Bucharest"s water and sewer grid: "It is important that Apa Nova understood the importance of water quality when it comes to the quality of life in general. The signing of this addendum will also clarify the status of the outstanding debts that the Mayoralty of Bucharest had towards Apa Nova, as well a series of commitments made by the company for the benefit of the inhabitants of Bucharest".

In turn, Bruno Roche said that though this addendum, the water and sewer services provided by the company will adapt to meet the current demands and evolution of the Capital, which is growing permanently.

The Mayoralty of Bucharest will pay Apa Nova the amount of 54.1 million lei to cover the amounts owed by RADET to Apa Nova.

A first installment of 29 million lei will be paid by the end of the year, and the remaining amount would be paid to the French company by June 3rd, 2010.