Veolia Chosen for $300 Million California City Water Contract

Jan. 31 (Bloomberg) -- Veolia Environnement SA’s water division has been awarded a 30-year contract through its North America subsidiary to manage water and wastewater systems for the Southern California city of Rialto and its water agency.

The city near San Bernardino, California, is using a public-private concession model to improve its infrastructure and as part of that, the Veolia Water contract is valued at about $300 million in revenue, the Paris-based company said.

Rialto will receive capital for water and wastewater upgrades as part of improvements that will enable the city to fund water main and sewer replacements and improvements including “seismic retrofits,” according to today’s statement.

Veolia statement: {NSN MHHGCC6VOT1D <GO>} Link to Company News:{VIE FP <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net