Suez Water Corporation: Should I Stay or Should I Go Now?

Should I stay or should I go now?

If I go there will be trouble

An’ if I stay it will be double

So come on and let me know.

— The Clash

The water customers of El Alto have made their demand in the streets. The President of Bolivia has issued a formal decree announcing that the country is taking back control of the water. Suez Corporation, the water giant from France, says it isn’t ready to leave. This is where the water revolt of El Alto stands at the end of the week.

Will Braun, a solid writer from Winnipeg, Canada managed to get this statement out of Suez spokesperson Luan Greenwood:

“Aguas del Illimani has not been informed officially that the water contract has been revoked. Shareholders will use all the legal recourses at their disposal to protect their rights. Ending a contract that is compliant and obtaining indisputable results will not be an easy task for the Bolivian government.”

Suez’s comments are reminiscent of those issued by Bechtel/Abengoa in the waning days of the Cochabamba water revolt. There seems little doubt here that the company owned by Suez, the World Bank and others will eventually leave, but look forward to a lawyer’s holiday as the Corporation and the Bolivian Government sort out the complexities of how to compensate the company for lost assets and what happens to the company’s incurred debt.

For those who might desire to weigh in directly with the company on that lead question – Should they stay or should they go now? – Suez’s CEO is Mr. Gérard Mestrallet. His email is:

gerard.mestrallet@suez.com

Bonjour.