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Veolia Becomes a Strategic Partner of Saudi Arabia in the Ecological Transformation
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Veolia has secured a 7-year Management Contract for water and wastewater services in Riyadh, covering nearly 9 million people with expected revenues of €82.6 million. The project includes managing a 30,000 km drinking water network and a 10,000 km wastewater network. Additionally, Veolia has formed a strategic partnership with the Ministry of Investment and Water Transmission to enhance operational performance in the sector and has become the exclusive partner for Saudi Aramco in treating 200,000 metric tons of industrial waste annually.
Positive
Secured a 7-year contract worth €82.6 million for managing water and wastewater services in Riyadh.
Covers nearly 9 million people, with population expected to double by 2030.
Strategic partnership with the Ministry of Investment to enhance the water sector's operational performance.
Exclusive partnership with Saudi Aramco for treating 200,000 metric tons of industrial waste.
Negative
None.
Veolia wins the Management Contract for water and wastewater services for the Riyadh region of 9 million people.
Veolia signs a strategic partnership agreement with the Ministry of Investment and Water Transmission and Technologies Company in the water sector.
The Group continues its development in industrial waste management through an exclusive partnership with Saudi Aramco.
RIYADH, Saudi Arabia--(BUSINESS WIRE)--
Regulatory News:
The National Water Company awarded Veolia (Paris:VIE) the Management Contract for water and wastewater services in the capital Riyadh and 22 outlying municipalities. The 7-year contract represents revenues of €82.6 million. It covers a population of nearly 9 million people, which is expected to double by 2030. The contract covers the management of a 30,000 km drinking water network and a 10,000 km wastewater network, with a large number of production and treatment units.
Veolia, together with Saudi Arabia's Alkhorayef Water and Power Technologies, will take on the operational and technical challenge of developing water services in Riyadh and its region and is committed to a series of concrete objectives. These include halving losses in the water distribution network, ensuring continuity of service and access to quality drinking water 24 hours a day, and implementing a training program for more than 5,000 local employees.
In addition, Veolia has signed a strategic agreement with the Ministry of Investment and Water Transmission and Technologies Company. Under this new partnership, Veolia will support the Kingdom in improving the operational, energy and commercial performance of the water sector throughout the country. This cooperation will focus on the deployment of innovative solutions, including digital ones, and on building skills in the operation and maintenance of facilities.
Veolia is also becoming Saudi Aramco's exclusive partner for the treatment of its industrial and non-hazardous waste. Estimated at 200,000 metric tons per year, this will be in addition to the 120,000 metric tons of hazardous waste that will soon be treated in Jubail, where Veolia is finalizing the construction of an incinerator for Sadara Chemical Company and other nearby industrial companies.
With its long-standing presence in Saudi Arabia, where the Group has been operating for more than 35 years in the water, waste and energy sectors for both municipal and industrial clients, Veolia continues to increase its contribution to the ecological transformation of the Kingdom in line with its Vision 2030 plan.
On the sidelines of the second Franco-Saudi investment forum, held in Jeddah on December 4, 2021, Antoine Frérot, Chairman and CEO of Veolia, said: "The strong commercial momentum Veolia has experienced in Saudi Arabia in recent years, as evidenced by the recent signing of several municipal and industrial contracts in all of our business lines, is a very clear indicator of the Kingdom's desire to achieve the very ambitious environmental objectives it has set for itself. In this context, Veolia is proud to be Saudi Arabia's preferred partner for its ecological transformation."
About Veolia
Veoliagroup aims to be the benchmark company for ecological transformation. With nearly 179,000 employees worldwide, the Group designs and provides game-changing solutions that are both useful and practical for water, waste and energy management. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and replenish them. In 2020, the Veolia group supplied 95 million people with drinking water and 62 million people with wastewater service, produced nearly 43 million megawatt hours of energy and treated 47 million metric tons of waste. Veolia Environnement(listed on Paris Euronext: VIE) recorded consolidated revenue of €26.010 billion in 2020.
What is the recent contract awarded to Veolia in Riyadh?
Veolia was awarded a 7-year Management Contract for water and wastewater services in Riyadh, representing revenues of €82.6 million.
How many people will benefit from Veolia's services in Riyadh?
The contract covers nearly 9 million people in Riyadh and the surrounding municipalities.
What strategic partnerships has Veolia formed in Saudi Arabia?
Veolia has signed a strategic agreement with the Ministry of Investment and Water Transmission to improve the operational performance of the water sector.
What type of waste will Veolia treat for Saudi Aramco?
Veolia will treat 200,000 metric tons of industrial and non-hazardous waste for Saudi Aramco.
How does Veolia plan to enhance water services in Riyadh?
Veolia aims to halve water distribution losses and ensure 24-hour access to quality drinking water.
