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, Bloomberg reported. 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.
Categories