STXNEWS LATAM-Brazil's water utility expands water-saving incentives

miércoles 28 de mayo de 2014 17:59 GYT

Cia de Saneamento Básico do Estado de São Paulo SA, Brazil's largest water and sewage utility, is extending economic incentives to customers outside the metropolitan area of Sao Paulo, encouraging them to use less water, according to a filing on Wednesday.

Sabesp, as the utility is known, is offering a discount to clients who reduce their monthly water consumption by at least 20 percent through December. The company's shares closed up 1.5 percent at 22.35 reais on Wednesday. Brazil is trying to avoid water rationing in its largest city in a year it is hosting the soccer World Cup and has presidential elections. Sao Paulo's main reservoir has been depleted after the driest summer on record. (Editing by David Gregorio)