Veolia Environnement Wins US$971 Million in Chinese Contracts
PARIS Veolia Environnement SA has won contracts worth 790 million euros (US$971 million) to provide drinking water to nearly 3 million people in China, furthering its push into Asia, the French utilities giant said Tuesday.
Veolia's water division, the world's largest, signed a 600 million euro ($737 million) 30-year contract to supply water to the city of Hohhot in northern China's Inner Mongolia region, home to about 2.5 million people, the company said in a statement.
In a separate deal worth an estimated 190 million euros ($233 million) in revenue over 22 years, Veolia is to expand and operate a water plant in the eastern city of Weinan, where 300,000 people live.
Veolia Water already supplies drinking water to the nearby town of Baoji and provincial capital Xian.
Since 2002, the French group has won contracts worth about 20 billion euros ($25 billion) in projected revenue for water treatment and supply in central and eastern China as well as for waste management services by its Onyx division.
Veolia shares rose 1.1 percent to close at 23.90 euros ($29.37) in Paris, where the benchmark CAC-40 index was slightly higher.
Source: Associated Press