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                                                                   Exhibit 10.20



                   FIRST AMENDMENT OF THE EMPLOYMENT CONTRACT

THIS AGREEMENT is made this 17th day of April, 2000

BETWEEN:        CONSOLIDATED WATER CO. LTD. (formerly Cayman Water
                Company Limited), a Cayman Islands company having its registered
                office at Trafalgar Place, West Bay Road, P.O. Box 1114GT,
                Grand Cayman. B.W.I. (the "Company")


AND:            ALEXANDER STEPHEN BODDEN of P.O. Box 1114GT, Grand
                Cayman, B.W.I. (the "Vice President")


WHEREAS:


A.       The Company and the Vice President entered into an employment contract
         dated the 31st

B.       August 1997 (the "Employment Contract").

C.       The parties are desirous of amending the same in accordance with the
         terms of this Agreement.

NOW IN CONSIDERATION of the mutual covenants contained herein the parties agree
that the Employment Contract shall be amended and/or rectified as follows:

1.       Renumbering existing Clause 4 as 4(A) and adding the following as
         Clauses 4(B), 4(C), 4(D) and 4(E);

4(B)     Further, commencing in the financial year 2000 and for each year
         thereafter, subject to any approvals of Government which may be
         necessary at the time at which the option is exercised, the Vice
         President shall be granted an option to purchase, at the "Exercise
         Price", payable in cash in full on the exercise of the option, a number
         of Ordinary Shares equal to the number of US$ which represents 1% of
         the net profit of the Company calculated as aforesaid for that
         financial year.

4(C)     The "Exercise Price" shall be the average of the closing market price
         of the Company's Ordinary shares on each of the first seven trading
         days in the month of October of that financial year."

4(D)     The options granted pursuant to Clause 4(B) may be exercised by the
         Vice President at any time after they vest and before the close of the
         Company's business the day before the third anniversary of the date of
         the Auditors Report on the Financial Statements for the relevant
         financial year.



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4(E)     For the avoidance of doubt, it is hereby agreed that the Vice President
         shall be entitled to participate in and to receive Redeemable
         Preference Shares pursuant to his participation in the Employee Share
         Incentive Plan, in respect of the financial year 1999, during the
         calendar year 2000 but not thereafter.

2.       The parties have acknowledged that the Employment Contract shall remain
         binding and effective in accordance with its terms except as expressly
         amended hereby.

THE PARTIES HERETO have set their hands and seals the day and date first above
written.


SIGNED AND SEALED in the presence of:


                                     )
                                     )
                                     )
                                     )
                                     )
/s/ Peter D. Ribbins                 )      /s/ J.M. Parker
------------------------------------        ------------------------------------
witness                                     Consolidated Water Co. Ltd.



SIGNED AND SEALED in the presence of:
                                     )
                                     )
                                     )
                                     )
                                     )
/s/ Peter D. Ribbins                 )      /s/ Alexander Stephen Bodden
------------------------------------        ------------------------------------
witness                                     Alexander Stephen Bodden


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