Veolia goes head to head with GE and seems to be doing alright. This contract is expected to bring NYSE listed VE about $ 800 million over twenty years. It follows the announcement last month of a $945 million desalination contract in Saudi Arabia.
From the press release:
As part of the New South Wales Government’s initiatives for sustainable water supply, the Sydney Water Corporation has awarded a major 250,000m3/day seawater reverse osmosis desalination plant contract to Veolia Water (Paris:VIE) and construction joint venture partner John Holland. The project’s aim is to help ensure Sydney has a sustainable and secure water supply, and comes after growing concern over climate change.
The contract is for the complete design, build, operation and maintenance of a reverse osmosis desalination plant with expected consolidated turnover of approximately 570 million Euros for Veolia Water over the life of the project. Veolia Water has formed a construction joint venture with John Holland for the project. Both organisations are currently working together delivering the Gold Coast Desalination Plant in Queensland.
