Veolia Environmental Services Signs New Waste Management Contract with the
City of Leeds in the United Kingdom
PARIS -- November 08, 2012
Regulatory News :
Veolia Environmental Services (Paris:VIE), through its subsidiary Veolia
Environmental Services (UK) Plc^1, has just signed a 25-year Private Finance
Initiative (PFI) contract with the Leeds city authorities for residual
municipal waste treatment and energy recovery.
Veolia Environmental Services was selected as the preferred bidder on January
23, 2012, for this contract worth around £460 million. It includes the
installation of a high-tech recycling and energy recovery facility that will
save the Leeds city authorities £200 million over the term of the contract
compared with the cost of landfilling its residual municipal waste.
Subject to obtaining the necessary planning consents, the facility will be
built in the East Leeds Cross Green Industrial Area. It will supply the
National Grid with enough electricity to power 20,000 households. In
cooperation with the Leeds city authorities, Veolia Environmental Services
(UK) Plc is also planning to develop a cogeneration plant able to supply heat
to local users.
Three hundred people will be recruited to work on the construction due to
start in summer 2013, and 45 permanent positions will be created, making a
significant contribution to the local economy.
The recycling and energy recovery plant is scheduled to open in spring 2016.
“This remarkable facility reflects our strategic commitment to the UK market
and our sustainable development approach that is reflected in the construction
of new waste treatment and energy recovery plants delivering exceptional
environmental performance,” says Jérôme Le Conte, CEO of Veolia Environmental
Services. “In the United Kingdom, Veolia Environmental Services is currently
involved in 12 PFI/PPPs. This type of partnership contract will help make it
possible to achieve the targets set under the European Landfill Directive.”
In order to meet European Landfill Directive targets it is essential to
concentrate on converting waste into a resource. The British government
estimates that achieving this target will require an investment of £10 billion
in waste management infrastructure by 2020.
“Veolia Environmental Services made the strategic decision, well before the
market, to make waste a resource,” adds Jérôme Le Conte. “”In the United
Kingdom in particular, clients are turning to us for innovative solutions that
enable them to improve their environmental and energy performance.”
Veolia Environmental Services. Veolia Environmental Services is the global
benchmark for waste management and resource recovery, and the only operator
across all segments of the waste management business (solid, liquid,
non-hazardous and hazardous waste). The company contributes to a better
environment by providing its municipal and industrial clients with innovative,
efficient waste management services that span waste collection, pipe system
management, and waste treatment, recovery and recycling solutions. Veolia
Environmental Services generated 2011 revenue of 9.7 billion euros.
Veolia Environnement (Paris Euronext: VIE and NYSE: VE) is the worldwide
reference in environmental solutions. With more than 315,000 employees the
company has operations all around the world and provides tailored solutions to
meet the needs of municipal and industrial customers in four complementary
segments: water management, waste management, energy management and passenger
transportation. Veolia Environnement recorded revenue of €29,6 billion* in
* Excluding Veolia Transdev revenues currently under divestment
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris.
This press release contains “forward-looking statements” within the meaning of
the provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These statements are based on management’s current expectations or beliefs and
are subject to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements, including the risks described in the documents Veolia
Environnement has filed with the U.S. Securities and Exchange Commission.
Veolia Environnement does not undertake, nor does it have, any obligation to
provide updates or to revise any forward-looking statements. Investors and
security holders may obtain a free copy of documents filed by Veolia
Environnement with the U.S. Securities and Exchange Commission from Veolia
^1 The contract will be made with Veolia ES Leeds Ltd which is a subsidiary of
Veolia Environmental Services (UK) Plc that delivers its PFI/PPP contracts.
Press release also available on our web site: http://www.finance.veolia.com
Analyst and institutional investor contact:
+33 1 71 75 12 23
US Investors contact
Terri Anne Powers
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