Welsh Water Gets $346 Million EIB Loan for Infrastructure WorksRandall Hackley
Dwr Cymru Welsh Water, which provides water and wastewater services to 3 million people across Wales, secured a 230 million-pound ($346 million) loan from the European Investment Bank to help finance infrastructure works.
Welsh Water, which operates under a not-for-profit model, will use proceeds from the 15-year loan as it readies the implementation of a 1.5 billion-pound investment program starting in April, the EIB said today in a statement.
Capital spending plans at the 6th-largest water and sewerage company in England and Wales include upgrades to 12 water-treatment plants and a surface-water management program in Llanelli and Gowerton called RainScape.
RainScape involves retrofitting urban drainage systems to capture, divert and slow the rate that rainwater enters the sewer system, reducing the risk of flooding and pollution from overloaded sewers following heavy rains.
In the last five years, the EIB has provided 3.2 billion pounds for investments by water companies across the U.K. The world’s largest multilateral lender is owned by the 28 European Union member states including the U.K.