Suez Environnement Co., Europe’s second-largest water company, won a French supply contract from the Gennevilliers water authority worth 234 million euros ($260 million).
The 15-year agreement with the water authority will provide wholesale softened drinking supplies for 605,000 inhabitants in 10 localities in SEPG’s territory starting in 2018, the utility based outside Paris said Wednesday.
Suez supplies drinking water to 92 million people a day, including from plants in Flins-Aubergenville and Le Pecq that help replenish the water table. Suez also provides wastewater treatment services to 65 million a day. It and bigger rival Veolia Environnement SA vie in France for municipal waste and water services and globally for works including desalination plants. Suez shares have risen 23 percent over the past year compared with a 43 percent increase by Veolia.