Brazil’s Copasa Plans $449 Million Infrastructure Investment
Cia. de Saneamento de Minas Gerais, Brazil’s second-biggest water utility by market value, will invest 900 million reais ($449 million) this year in infrastructure including 80 sewage-treatment plants.
The company will invest about 350 million reais in maintaining existing assets and another 100 million reais in organic growth, Chief Executive Officer Ricardo Augusto Simoes Campos said today in an earnings call. Most of the remainder will be invested in building waste-treatment facilities.
Copasa made 876.7 million reais in sales in the first quarter and 293.7 million in earnings before interest taxes depreciation and amortization, the company said yesterday in its earnings statement.
The company, based in Belo Horizonte, invested 151 million reais in the first quarter, mostly in new water and sewage infrastructure, according to a company presentation.
Cia. de Saneamento Basico do Estado de Sao Paulo is the largest water utility by market value in Brazil, according to data compiled by Bloomberg.
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