Until 2019, Arison Investments owned the water company, Miya, an operator of water assets and a provider of end-to-end integrated solutions for urban water efficiency. Established in 2008, with the mission of ensuring the abundant supply of fresh water through efficient management of existing resources, Miya operates via two complementary channels:
• Water asset operation – Miya transforms the operation and management of water utilities to ensure their effective performance.
• Water efficiency solutions – Miya is a global leader delivering end-to-end integrated solutions for urban water utilities worldwide.
By bringing in its extensive know-how and proven methodologies, Miya drives utilities forward and ensures maximized efficiency of water systems in cities across the globe. This also enhances customer service levels, reduces energy consumption, and lowers contamination and health risks, benefitting people, community, and the environment. With long-term operations in Portugal, Brazil, the Caribbean, and the Philippines, it focuses on two key segments:
Water and wastewater concessions In 2016, Miya expanded its portfolio by acquiring a controlling shareholding in Indaqua, Portugal's leading private water and wastewater company. Indaqua serves seven utilities in Portugal's north-west, covering an area of 1,000 square kilometers with a distribution network of more than 600,000 residents (holding 100% market share of these consumers). Miya applies its efficiency-driven practices to drastically improve Indaqua's operational and financial performance.
End-to-end integrated solutions for water efficiency Miya specializes in complex, turnaround water efficiency projects, focused on reducing non-revenue water (NRW). NRW is the gap between the amount of water that is pumped or produced into the distribution system and the amount of water billed to the end consumers. Since many water distribution systems in cities worldwide are aged and inefficient, NRW has become a major global challenge. To answer this, Miya operates across multiple geographies, optimizing legacy networks by upgrading them to meet the demands of the world's growing urban population. Miya partners with water utilities for 5-10-year projects, which are designed to be paid over their entire lifecycle. It applies a unique financial model that combines both fixed fees and performance-based fees (up to 40% of the total contract). Some examples include:
• Manila – One of the world's largest NRW projects, in partnership with the local utility Maynilad, culminating in savings of more than 700 million liters (185 million gallons) of potable water every day, which slashed the leaks in half and brought fresh water to 2.6 million residents for the first time.
• Bahamas – Miya is currently implementing a 10-year mega-scale project, estimated at $90 million. Between 2013 and 2016, Miya led to savings of 18.4 billion liters (4.05 billion imperial gallons), exceeding targets by 5 billion liters (1.15 billion imperial gallons).
• Jamaica – Miya is currently implementing a unique 5-year co-managed project estimated at $42.5 million. Focusing on KSA's high NRW rate of 55%, Miya has targeted to substantially reduce NRW to 30%.
For its mega-scale project in Manila, where it partnered with local utility Maynilad, Miya was awarded the prestigious 2013 IWA Global Project Innovation Award in the Development - Drinking Water Supply category, and the 2014 IWA Asia Pacific Regional Project Innovation Award, in the Operations/Management category. Miya was also shortlisted for the prestigious 2014 GWI Performance Initiative of the Year Prize, for its joint project with Bahamas local utility WSC.
CEO Amit Horman.
For more, visit the Miya website.