Aguakan Hit With $200M Tax Demand Amid Cancún Woes

Cancún, Q. Roo. — The conflict between Aguakan and the Government of Quintana Roo has entered a new phase of tension. The company Desarrollos Hidráulicos de Cancún, responsible for potable water and sewer services in the state's main tourist centers, has been notified of a tax credit for approximately 3,758 million pesos, equivalent to about 200 million dollars, for operations from 2019 that, according to state authorities, deviated from the financial model of the concession.

The company confirmed the requirement through a statement disseminated on the Mexican Stock Exchange, in which it labeled the measure "unconstitutional and violatory" and announced it will file legal appeals in its defense. The amount represents close to 95 percent of Aguakan's annual income during 2024, according to financial estimates.

The Government of Quintana Roo maintains that the concession holder failed to meet investment obligations and holds a debt close to 4 billion pesos with the Comisión de Agua Potable y Alcantarillado (CAPA) for works that were not executed, particularly in the northern zone of the state, where the highest levels of consumption and urban growth are concentrated.

CAPA warns that the company has not complied with the five-year infrastructure plan, which has resulted in visible backlogs, deficiencies in the distribution network, failures in sewer systems, and a lack of coverage in expanding neighborhoods.

Poorly Planned Works and Inconveniences in Cancún

Social discontent is also reflected in the streets. In Región 91, Manzana 43, Lote 23 of Cancún, neighbors reported open trenches, heavy machinery, and road damage caused by recent works attributed to Aguakan. Images captured at the site show trucks sunk into the pavement, mud puddles, and impassable streets.

Residents indicate that the work lacks signage and prior notice, in addition to causing accidents involving vehicles and trucks, cuts in water supply, and blocked traffic.

"They break things up, leave mounds of earth, and leave. When it rains, this turns into a swamp," expressed one of the many affected neighbors.

The photographs documented by Diario CAMBIO 22 evidence the deterioration of the roadway and the lack of municipal supervision during the works.

A Conflict with Legal and Financial Repercussions

The confrontation between Aguakan and the state government transcends operational matters. The company, controlled by Grupo Mexicano de Desarrollo (GMD) and GBM Infraestructura, accuses the State of acting outside the legal framework and maintains that the collection contravenes prior sentences from the Tribunal de Justicia Administrativa de Quintana Roo, which limited CAPA's faculties to convert financial differences into tax credits.

In parallel, the extension of the concession granted in 2014 until 2053 remains under judicial review, after the government considered its authorization irregular.

The Suprema Corte de Justicia de la Nación declined to take on the case, and the company requested international arbitration before the Cámara de Comercio Internacional (ICC).

Analysts warn that this legal environment could affect the payment of stock certificates for 1.4 billion pesos that mature in 2026 and deteriorate the concession holder's credit rating, already downgraded by HR Ratings due to regulatory uncertainty.

What is at Stake

The outcome of the case will define the water management model in Quintana Roo. If the state authority maintains its position, it could open the door to a comprehensive review of private concessions and a new scheme of public control over the service.

Meanwhile, the inhabitants of Cancún continue to face problems with supply, leaks, broken streets, and a lack of information—a combination that, according to experts, evidences the fragility of the concessioned system and the urgency of reinforcing technical and social supervision over Aguakan.