Cox chief expects needs to rise at 10-15% rate a year as company seeks to raise €300mn on Madrid Stock Exchange
Demand for water will soar as conflicts in the Middle East intensify, data centres consume vast amounts of resources and the global population grows, the chief executive of Spanish utility group Cox warned, as he revealed plans for a €300mn initial public offering. “We’re going to grow on water,” Nacho Moreno said, adding that he expected global water treatment needs to increase annually at a rate of 10 to 15 per cent.
They’ve got the money to invest. But they lack the water.” If Saudi Arabia’s desalination plants were to blow up, for example, the country would run out of water in a few hours, he added. “Water security, given the geopolitical situation, is something which is key.” To address this, Cox has developed floating desalination plants in the sea that can be moved to secure provisions and supplies.
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