French Veolia to modernise water distribution in Delhi

French Veolia Environnement to modernise water distribution in New Delhi - report

(SeeNews Asia Pacific) - Nov 13, 2012 - French waste and water management group Veolia Environnement's (EPA:VIE) unit Veolia Water India has been selected by Delhi Jal Board, the state-owned water management authority in New Delhi, for the modernisation of the water distribution system in the city's 1-million-resident district Nangloi, daily Les Echos said.

Veolia declined to comment on the report, the daily said.

The group won the tender, in which also its rival Suez Environnement (EPA:SEV) was taking part. The final agreement will be signed in the next few weeks.

Veolia will execute the contract in association with Indian Swach Environment, with which it will set up a joint venture company, 51%-controlled by the French group.

The contract will be valid for 15 years, of which the first four will be taken up by modernisation works, for a total investment of EUR 93 million (USD 117.8m). Delhi Jal Board will cover 70% of the amount and the JV the remaining 30%.

(EUR 1.0 = USD 1.268)