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Company to Supply Municipal Outsourcing Services for Chinas Shenzhen Business District
Veolia Water, the Water division of Veolia Environment, has signed a major contract for municipal outsourcing services with the City of Shenzhen in China. The contract covers the production and districution of water, customer relations, and the collection and treatment of wastewater.
The 50-year contract was awarded after an international invitation to tender and is worth total revenue of more than 8.5 billion euros.
Shenzhen, which is located on the border with Hong Kong, is one of China’s most important business hubs. Veolia Water’s contract covers the Shenzhen special economy zone (the city’s business district), which currently totals more than 2.2 million people.
Under the terms of the contract, Veolia Water, associated with a partner, the investment company Beijing Capital Group, will acquire 45% of Shenzhen Water Group Company Ltd. The remaining 55% will be owned by the Shenzhen municipality. For Veolia Water, the contract involves a capital investment of 100 million euros.