The Gibraltar Government has acquired full ownership of AquaGib after purchasing the remaining 67% shareholding held by Northumbrian Water Group for £7.5 million, the Chief Minister, Fabian Picardo, told Parliament on Monday.
Mr Picardo said AquaGib will continue to act as an independent entity with its own board of directors, as does Gibtelecom, adding that the acquisition strengthens “national control over critical infrastructure”.
“I would like to assure this House that the transition in ownership will not result in any disruption to customers, employees, and stakeholders,” Mr Picardo said.
“As we look to the future, this acquisition underscores my government’s commitment to ensuring that essential services are aligned with the needs of our community, with profits reinvested for the benefit of taxpayers.”
“We will also continue to engage external expertise where necessary to ensure that AquaGib operates with the highest standards of efficiency and professionalism.”
“This is a historic moment for Gibraltar, one that reflects our determination to safeguard and enhance the services that our community relies upon and where we retake full control now of the supply of water to our people – the elixir of life.”
The Minister with responsibility for Public Utilities, Gemma Arias-Vasquez and the Chair of the AquaGib board will appoint three new board members in the early part of the new year.
They will join the existing board members, namely Ms Arias-Vasquez, the Financial Secretary, Mr Charles Santos, and AquaGib’s Managing Director, Mr Paul Singleton.
AquaGib Managing Director Paul Singleton said: “I would like to take this opportunity to thank Northumbrian Water Group personnel both past and present for their positive input over the years which has allowed AquaGib to develop into the mature water and sewerage services company that it has become.”
“The change in ownership represents an exciting time for AquaGib but does not change the continued commitment of all of our staff to provide the highest level of service to the Gibraltar public through our contracts with HMGoG.”
The Minister for Public Utilities, Gemma Arias-Vasquez, said: “Over the past 30 years, private partnerships have played a key role in developing our water infrastructure, but now the time has come for this essential service to be re-nationalised and brought back into full public ownership.”
“I would like to thank Northumbrian Water for their tremendous support which has enabled AquaGib to grow into the successful water production company it is today.”
“Thank you, in particular, to all those past and present employees who, over the years, have made this possible.”
“This acquisition ensures that the benefits of AquaGib’s operations are returned entirely to the taxpayer while maintaining the company’s ability to draw on external expertise whenever needed. I would like to thank all those involved in the smooth transition of ownership and the staff at AquaGib, whose continuous hard work ensures the reliable supply of water to the people of Gibraltar.”
