Resources: British water company to lose Guyana contract

Severn Trent Water International Ltd., the global arm of Severn Trent PLC, the British company managing Guyana's water sector, will not be granted a contract extension since it failed to adequately improve service in the South American nation over its five-year contract, a government official announced Saturday.

The company neglected to meet new customer targets and boost revenue collection since 2002, when the firm was hired to improve Guyana's ailing water sector, according to Water Minister Harry Nawbatt.

"We are terminating the contract with the company. The only reason is that they have failed to meet targets as we have together stipulated," he said.