The creation of Aqaba Water Company (AWC) was part of the efforts to introduce efficiencies in water management and reform by increasing the use of private sector practices and to facilitate private sector participation.
AWC was established on March 11th, 2004 and started operations on August 1st 2004 as a limited liability company owned by Water Authority of Jordan (WAJ) (85%) and Aqaba Special Economic Zone Authority (ASEZA) (15%).
The company is continuing to achieve its targets and performance standards based on commercial principles which embrace the following: growing demand, customer satisfaction, quality standards, operation and maintenance, the adoption of new tools and technologies for improvement of systems and procedures, and sound financial status.
During 2005 AWC achieved 10.6 MJD revenues with 1.87 MJD profit, the net profit margin being 17.5% , 154% recovery of operating cost ratio and total cost recovery ratio of 121%. The company also managed to reduce the Non-Revenue Water (NRW) to an average of 21.5%.
Based on the PMU’s monitoring of the performance indicators system, two monitoring missions were conducted; During the first two quarters of 2006 the company achieved 118 % operating costs coverage ratio and satisfied most of the requirements and inputs of monitoring system which in general showed improvements.