Macau,China, 16 Dec – Macao Water is expecting a drop in profits this year due to the global financial crisis and increased spending on infrastructure projects in the city, deputy general manager Oscar Chu, told news agency MacauNews.
Chu told MacauNews that the water supply company would not meet its projected growth estimates of nine per cent this year. He said the growth in business to the end of November was only three per cent.
In 2007 Macao Water made a profit of MOP 54.4 million and that figure is expected to drop below MOP 50 million this year.
Chu said the company had just completed a series of infrastructure upgrades to increase its water supply capacity to 330,000 cubic metres per day, an increase of 60,000 cubic metres.
The works are part of a five-year plan, which began in 2006, that will see US$62.5 million (MOP 500 million) spent on upgrading Macau’s water supply infrastructure.
Chu said the focus for the coming year would be on network refurbishment and maintenance.
He said the public utility would also be looking at ways to make better use of its three reservoirs on Coloane island.
More than 98 per cent of Macau’s raw water is sourced from the Modaomen Waterway of the West River in the mainland and supplied via three pipes from Zhuhai.
Chu said the infrastructure in place between the two cities would ensure a reliable water supply to Macau for at least the next ten years. The Government of Macau has also invested a further US$57 million to build a reservoir that will also supply water to Macau.
Macao Water has 198,000 customers in the city, with 46.7 per cent of water used by domestic customers.
The capital of Macao Water capital is equally split between NWSH of Hong Kong and French company Suez. (macauhub)