Veolia Received $497 Million in China

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Veolia Received $497 Million in China

Veolia Environnement SA Received Industrial Water Treatment Contracts from a Unit of China's Biggest Steelmaker in Hebei Province Tanshan Iron & Steel

Europe's largest water company, Veolia Environnement SA (VE.NYSE), received industrial water treatment contracts from a unit of China's biggest steelmaker in Hebei province.

Valued at US$497 million, Tanshan Iron & Steel, a subsidiary of Hebei Iron & Steel Group, chose Veolia 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 northeastern and northern China.

Veolia has sought new markets such as water-treatment works from mining and oil companies to increase revenue from industrial clients and currently supplies drinking water to about 40 million people in China.

Source: China Economic Review

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