The Government has announced that it has today acquired the remaining 67% shareholding in AquaGib from Northumbrian Water Group, bringing the company into full public ownership. The Government now owns 100% of AquaGib, having previously held a 33% stake. HMGoG has purchased the remaining shares for £7.5 million. 

A statement continued: “This acquisition brings Gibraltar’s water supply under public ownership, ensuring that the management and operation of this critical national infrastructure is fully aligned with the interests of the community. The move also guarantees continuity in service delivery while enabling AquaGib to operate independently, with external expertise engaged as required. AquaGib will continue to be operated as a separate entity to HMGoG, in much the same way as Gibtelecom operates. It will have its own board of directors, who will continue to run the Company. 

“AquaGib was established over 30 years ago as a joint venture between the Government of Gibraltar and private sector partners to modernise water production and supply infrastructure. Over the decades, AquaGib has delivered on its goal to provide high-quality water services. As initially announced by the Chief Minister, the Hon Fabian Picardo KC MP, during his Budget address in 2022, with contractual agreements reaching their conclusion, the Government determined that acquiring the company outright was the best way to avoid disruptions and ensure a seamless transition for customers, employees, and stakeholders. 

“As part of the acquisition, the three directors appointed by Northumbrian Water have resigned from the AquaGib board. A new board will now oversee the company’s operations, with a focus on strong governance and long-term sustainability, and will run the company independently from Government. 

“The Minister with responsibility for Public Utilities and 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 the Minister for Public Utilities, the Hon Gemma 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.” 

Stewart Hazon for Northumbrian Water Group (NWG) said: “It has been an honour to be a key partner in AquaGib, proudly holding a two-thirds share in the company for over 25 years. During this time, we have had the privilege of supporting AquaGib’s growth and transformation into the successful organisation it is today. We extend our gratitude to HM Government of Gibraltar for their unwavering collaboration and support throughout these years. To the incredible team at AquaGib, thank you for warmly welcoming us and embracing the insights and expertise we’ve shared. Your dedication and hard work have been truly inspiring. As this chapter comes to a close, we wish both AquaGib and HM Government of Gibraltar every success in the years ahead.” 

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.”