Although privatization of water is very much debated, private water companies keep on thriving. In fact, in previous years, they continue to grow amid climate change and water crisis. For some, water privatization is the key to provide safe and accessible water to every community while some say it actually robs the masses of its very basic human right.
In the US, UK, France, and Brazil, private water companies play dominantly. These countries house Suez, Veolia, and SABESP, which consistently topped the list of the world’s largest private water companies in terms of revenue. The market on water is becoming more promising as the demand increases. Government agencies governing utilities not having the capacity to adhere to global challenges and step-up their plan in providing clean water in every household is one factor why these companies are more trusted by consumers.
Currently, more players budding as the market in other regions such as Southeast Asia, Africa, and Latin America have shown interest in private participation. Authorities continue to seek help with private water companies and invest in mergers and acquisitions, rate increases, and concession awards just to meet the standards. The Philippines, having an improving track record in the sector, is considered as one of the ideal venues of water projects and innovations since the country is looking forward to a more sustainable and efficient water service as they are frequently hit by calamities.
Private water companies, despite being seen as a foe by some organizations, are undeniably one of the answers in providing access to safe water especially in poverty-stricken areas as political accountability cannot guarantee in giving adequate solutions. Moreover, these private water companies are not primarily focused on making profits but to ensure that water is sustainable, affordable and is properly treated and protected.
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