Veolia Water sets up a joint venture with Tianjin Water Works

November 30, 2007 | BY

clpstaff

Veolia Water, the water division of Veolia Environment, has signed a 30-year contract with the state-owned utility group Tianjin Water Works (Group) Company…

Veolia Water, the water division of Veolia Environment, has signed a 30-year contract with the state-owned utility group Tianjin Water Works (Group) Company Ltd to supply 3.2 million people with drinking water in Tianjin, one of the major economic cities in northeastern China.

The contract represents a cumulative turnover of 2.65 billion Euros for Veolia Water, and involves a participation in the acquisition of a 49% stake in Tianjin Shibei Water Company Ltd, which will be transformed into an equity joint venture between Tianjin Water Works (Group) Company Ltd and Veolia Water following completion of the acquisition. Gide Loyrette Nouel advised Veolia Water on this acquisition.

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