Veolia Environnement SA (VIE), Europe’s largest water company, won a contract that will generate $115 million in sales for a desalination plant in Iraq.
Veolia will construct the plant over 30 months starting this quarter in partnership with Hitachi Ltd. (6501) and Egyptian engineering company ArabCo, it said in a statement. The Paris-based utility will operate the Basra installation for five years.
The plant with a capacity of 200,000 cubic meters of drinking water a day will include an ultrafiltration unit, reverse osmosis membranes and power generators, according to the statement.
Veolia Chief Executive Officer Antoine Frerot is expanding in higher-growth economies than Europe and industrial contracts in a bid to reduce reliance on French municipalities.
The Iraqi order follows another in Kuwait for a 123.6 million-dinar ($437 million) desalination plant at the Az Zour complex south of the capital. That plant will be able to produce 486,400 cubic meters a day for sale to Kuwait’s Ministry of Electricity and Water under a 40-year contract.
To contact the reporter on this story: Tara Patel in Paris at email@example.com
To contact the editor responsible for this story: Will Kennedy at firstname.lastname@example.org