Message-ID: <25503402.1075840209144.JavaMail.evans@thyme> Date: Thu, 14 Sep 2000 09:32:00 -0700 (PDT) From: joseph.sutton@enron.com Subject: Update on Azurix - Buenos Aires water project Cc: pam.benson@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: pam.benson@enron.com X-From: Joseph W Sutton X-To: Kenneth Lay@ENRON, Jeff Skilling@ENRON X-cc: Pam Benson X-bcc: X-Folder: \Kenneth_Lay_Dec2000\Notes Folders\All documents X-Origin: LAY-K X-FileName: klay.nsf This is not good news. As you know, this financing was very important in helping to solve the liquidity problem. John did tell me that they had good meetings with the Embassy this week. My experience with OPIC tells me that with a change in administration in Washington and the concerns John mentions in his memo, we should not count on the financing. Thanks, Joe ---------------------- Forwarded by Joseph W Sutton/ENRON_DEVELOPMENT on 09/14/2000 04:30 PM --------------------------- Enron International From: John Hardy 09/14/2000 02:40 PM To: Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Update on Azurix - Buenos Aires water project Joe As an update to my earlier email on the Azurix water project, Azurix has suspended OPIC's consideration of the project until either we are able to get a more positive cable out of the US Embassy in Argentina or George moves on - probably in late January. But the OPIC pullback together with the publicity about Rebecca's departure has caused serious concern on the part of IDB which is now pulling back. The IDB has made it clear that they are concerned about Enron's intentions regarding Azurix. I have talked to Azurix about seeking some statement of support from Enron so that we can address this issue head on. You may well be getting some communication from John Garrison on this issue. If we can get back on track Azurix may be able to get IDB Board approval this fall. Hope you are well. thanks John