The municipalities in the Coimbra Region are considering stopping paying waste to ERSUC – Solid Waste of the Center, after the majority shareholder, held by Mota-Engil, approved a distribution of two million euros in dividends in a “heavily indebted” company.
The municipalities of the Intermunicipal Community (CIM) of the Coimbra Region admitted today, in a press release sent to the Lusa agency, that they stopped paying for services to ERSUC, in protest against the decisions of the majority shareholder of the company, which provides services in the area of waste. solid in the Central Coast of the country, in several municipalities in the districts of Coimbra, Leiria and Aveiro.
According to the press release from the CIM of the Coimbra Region, at issue is ERSUC’s decision to approve a proposal for the distribution of around two million euros to its shareholders, a decision that was voted against by “all the municipalities present” , but which was approved by the majority shareholder, Empresa Geral de Fomento (EGF), and SUMA, both owned by Mota-Engil.
The proposal “deserved the rejection and vote against of all the municipalities present”, highlights the CIM of the Coimbra Region, but noted that it was approved by the two majority shareholders, who together hold more than 57% of the company (EGF 51% and SUMA almost 6%).
“As the company is heavily indebted and is facing very high financial costs, in the order of 2.5 million euros in 2023, this decision to distribute dividends to shareholders is irrational and contrary to the interests of ERSUC, the municipalities and the population”, he highlighted the CIM of the Coimbra Region, also highlighting that this distribution of money to shareholders comes after tariff increases were recorded.
The municipalities in the Coimbra Region that make up ERSUC met on Friday and considered the decision taken at the company’s general meeting “unjustified and irrational” and that it will “cause a significant negative impact on the municipalities and citizens of the region, reflected, in the short term, in the tariff”.
In the press release, CIM also refers to “the apparent tranquility” of the Water and Waste Services Regulatory Authority (ERSAR), accusing it of resorting to “a deafening silence” when it comes to ERSUC.
“In fact, although this entity assumed, a year ago, that it would carry out audits and inspections of ERSUC, the truth is that, after all this time, the CIM continues to wait for the respective results and conclusions and the requested responses”, vinca.
Questioned by the Lusa agency, the president of the CIM of the Coimbra Region, Emílio Torrão, highlighted that there will be a meeting in April with the legal department to “take a serious decision” on the deliberation of the ERSUC general assembly.
“We want to take a drastic position, which could lead to non-payment of invoices”, he said, stressing that the current structure “does not serve the municipalities”.
According to Emílio Torrão, citizens are “angry” with the prices and service provided by ERSUC, but local authorities do not, at the moment, have any decision-making capacity on the matter.
ERSUC covers an area with around one million inhabitants and treats more than 300 thousand tons of waste per year.
The system includes municipalities in the districts of Aveiro, Coimbra and Leiria, which hold minority stakes in the company.
ERSUC is controlled by EGF, which, in turn, is owned by SUMA Treatment, the majority of whose capital is held by SUMA, part of the Mota-Engli group.
The Lusa agency tried to obtain additional clarification from ERSUC, but without success so far.
