The project

Potential investors are invited to evaluate the opportunity to enter into a Public-Private Partnership for the provision of drinking water and sewage services in Saint Lucia, through the acquisition of a 40% stake in the future national water services provider.

The Government of Saint Lucia envisages the placement of a 40% stake in the national water and wastewater services provider with the private sector under a PPP modality. The new entity (NEWCO) will be created with the winning bidder acquiring this stake through capital contributions. The international private investor would be granted operational control over the NEWCO, and would have majority control on the board.

The NEWCO will be constituted under the New Water Act (Act No. 14 of 2005), and will be given the license to provide water and sanitation services in Saint Lucia. Shares in the NEWCO will also be placed to the National Insurance Corporation of Saint Lucia (20% ownership), and Saint Lucian investors (20% ownership). The Government will retain 20% ownership in the NEWCO, through WASCO, by contributing selected assets of WASCO (vehicles, office equipment, etc.) and the usufruct of its fixed assets.