The city of Izmit is experiencing drought

[aurora]

http://www.zaman.com.tr/webapp-tr/haber.do?haberno=474654

The city of Izmit, which was devastated by the 7.4 earthquake in 1999, is experiencing a very severe drought in December which is supposed to be the wettest month of the year. The Yuvacık Dam, supplying water to the city has literally dried up. Bottled water sales have increased six fold but it is not enough. Since Izmit is an industrial zone, water shortage is affecting the factories.The English Thames Water Co. which is managing the dam is still collecting money for the water it does not supply. The dam had a cost of 4.7 billion USD and the court has ruled that the state has undergone a loss due to this project.

 

[Johnno]

The Thames Water Co seems to have been sold recently to the Macquarie Bank (known downunder as "The Millioniaire Factory"). There seems to be money in water.

http://news.xinhuanet.com/english/2006-10/17/content_5212405.htm

BEIJING, Oct. 17 (Xinhuanet) -- Britain's biggest sewage and water company, Thames Water, has been sold to Macquarie Bank Ltd., an Australian-run investment consortium, for 8 billion pounds, accoring to media reports.

"A consortium led by Macquarie's European Infrastructure Funds has signed today a conditional agreement to acquire RWE Thames Water Holdings from RWE at an enterprise value of eight billion pounds," Macquarie said on Monday.

Macquarie beat off rival offers from bidders such as Qatar Investment Authority, which had widely been seen as the front-runner to win the auction for Thames -- owned by German utility RWE AG (RWEG.DE).

The German firm said Macquarie Bank, its European Infrastructure Fund and other investors had agreed to buy Thames for eight billion pounds, including 3.2 billion pounds of net debt.

The sale remains subject to RWE's supervisory board, which is next due to meet over the weekend, along with anti-trust authorities. RWE said it expected the transaction to be closed by early December.

Thames Water supplies eight million clients in Britain with drinking water and 13 million with sewage services, of which the majority are in London and the southeast of the country

 

[allenb]

There seems to be money in water.

Yeah, just watch the movie Chinatown. Memorable quotes:

Noah Cross: Either you bring the water to L.A. or you bring L.A. to the water.

Morty: Can you believe it? We're in the middle of a drought, and the water commissioner drowns. Only in L.A.