UK business news in short
This week’s UK business news in short is dominated by the water sector, with Yorkshire Water spending £2 million on improving a treatment plant, Thames Water working in South America, and Enron’s Wessex Water being sold off.
Yorkshire Water has begun a £2 million scheme to improve its Eastwood wastewater treatment works in Todmorden, West Yorkshire. The work will take a year to complete, and comprises an increase in the treatment capacity of the plant and an improvement in the processes. It is expected that the project will improve the quality of effluent being discharged into the River Calder. The scheme is part of a five-year £400 million programme by Yorkshire Water designed to make rivers cleaner.
Meanwhile, Thames Water has been looking abroad, and has announced that since responding to an appeal in 1999, the company’s work across South America has benefited almost half a million people. The company’s current projects include a new wastewater treatment plant in Chile – an environmental project that is expected to result in a reduction in pollution to rivers and lakes, benefiting the community and tourism.
Finally, following the fall from grace and profitability of the giant US utility Enron, parts of the company are being sold off. As a result, the UK subsidiary, Wessex Water, has been up for grabs, and was expected to be purchased by a consortium led by the Royal Bank of Scotland. However, Malaysian power company, YTL, increased its offer at the last minute and bought the company – although, it is thought that the deciding factor was the possibility of a quick sale, rather than the price.
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