Veolia Wins $497 Million of Water Works From China SteelmakerRandall Hackley
Veolia Environnement SA, Europe’s largest water company, won industrial water-treatment contracts from a unit of China’s biggest steelmaker in Hebei province for works valued at 390 million euros ($497 million).
The Paris-based company said today that it was chosen by Tangshan Iron & Steel, a subsidiary of Hebei Iron & Steel Group, to build a wastewater-treatment facility and to recycle and cool water for a coking plant and a gas-liquefaction facility in a corridor linking two major regions of northeast and north China.
Veolia, led by Chief Executive Officer Antoine Frerot, has sought new markets such as water-treatment works from mining and oil companies to increase revenue from industrial clients. It supplies drinking water to about 40 million people in China.