The French group's stake will be 49%.
The French energy and environmental services group Veolia announced today that it has won a contract to supply drinking water to part of the Chinese city of Tianjin, with a population of three million, for 30 years, which would generate revenue of €2.650 billion.
The contract, obtained through an international tender, involves Veolia's entry into the Tianjin Shibei Water Company with a 49% stake, and will cover the Shibei and Binhai districts, north and east of this major Chinese port, respectively, the French company highlighted in a statement.
It includes the management of the Xinkaihe drinking water production plant, which treats one million cubic meters per day, as well as the Jinbin plant that is under construction, which will have a planned capacity of 500.000 cubic meters.
The new joint subsidiary of Veolia and Tianjin WaterWorks will also have the mission of developing the water supply network to provide water to all the industrial zones in the Binhai region, throughout the Bohai Bay.
At the same time, the Chinese government is launching a comprehensive development and reconstruction plan on the Haihe River, which will be connected to the country's other three major rivers: the Yellow, the Yangtze, and the Huaihe.
Veolia Water's CEO, Antoine Frérot, emphasized that "with the Tianjin contract, we continue to develop our presence in major Chinese cities," and noted that they have established several long-term contracts in that country.
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