To implement its infrastructure upgrade program, Thames Water has formed an alliance with four partners, two of which are joint ventures—including that of Veolia Water, Costain and Atkins—to deliver a program of essential works, which includes the design and construction of water pipes, sewers and treatment facilities. The contract, represents an investment of £3 billion (€3.5 billion) and is the largest capex management contract in the water sector in Europe.
"We have a significant amount of work to do upgrading our deteriorating infrastructure while keeping customers' bills affordable. If we are to achieve this, a different approach is required. That's why we have formed this alliance to deliver our program. This represents a complete transformation in the way we carry out investment. Our focus will be on delivering value, as opposed to just cost-efficiency."
Thames Water Asset Director
Following an initial planning and mobilisation stage from 2013-2015 with the joint venture partners, the upgrade program will begin in 2015 and last five years, with the option of an extension for a further five years.
Veolia's expertise and proven technical and operational capabilities enable it to take a key role in this essential capital delivery program and meet the high standards that Thames Water demands for its customers.
"The alliance model focuses on maximising synergies between the partners to work collaboratively to deliver sustainable innovative solutions. This type of contract aligns with our strategic growth and is a demonstration of the quality of Veolia Water's services and the value of its offers."
Chairman and CEO of Veolia Water
Veolia Water selected as part of an alliance model by Thames Water
Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This press release contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These factors and uncertainties in particular include risks related to customary provisions of divesture transactions and those described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U.S. Securities and Exchange Commission from Veolia Environnement.
Veolia Water, the water division of Veolia Environnement, is the world leader in water and wastewater services. Specialized in outsourcing services for municipal authorities, as well as industrial and service companies, it is also one of the world's major designers of technological solutions and constructor of facilities needed in water and wastewater services. With 89,094 employees, Veolia Water provides water services to 100 million people and wastewater services to 71 million. Its 2012 revenue amounted to €12.078 billion.
Veolia Environnement (Paris Euronext: VIE and NYSE: VE) is the worldwide reference in environmental solutions. With 220,000 employees*, the company has operations all around the world and provides tailored solutions to meet the needs of municipal and industrial customers in three complementary segments: water management, waste management and energy management. Veolia Environnement recorded revenue of €29.4 billion* in 2012.
* Excluding Veolia Transdev employees and revenues currently under divestment
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