BIZCHINA / Overseas Investment
French supplier wins Gansu deal
(Shanghai Daily)
Updated: 2007-01-24 14:25
Veolia Water has won a 1.6 billion euro (US$2.07 billion) contract to run
four water-treatment plants in northwestern China's Gansu Province.
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The world's biggest water company landed the 30-year contract after
agreeing to buy 45 percent of the Lanzhou Water Supply Co, based on the
banks of the Yellow River, the French firm said on its Website on Monday.
"At this level of participation it would generate for Veolia Water an
estimated cumulative total turnover of 1.6 billion euros," the online
statement said.
Veolia won a tender in September that involved seven domestic and
overseas water companies, including its major rival, Suez Environment.
Operations at Lanzhou Water Supply, which employs 2,200, will start in
the middle of this year.
The deal is the 21st for Veolia since it entered the China market in the
1990s. It was the first private company permitted to become involved in
full water service in China.
(For more biz stories, please visit Industry Updates)
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