 This latter way of private sector participation, also known as concession, differs substantially from selling shares of the companies because the infrastructure remains property of the Chilean state.All seven companies which were privatized in the second way merged in 2005, assuming the name ESSAN.According to the World Bank's Private Participation in Infrastructure database, investment commitments by the private sector in Chile's water and sanitation sector reached US$5.7 bn in 1993–2005 through 20 projects, with US$4 bn of commitments made in 1999 alone through 4 projects.