Written By Krishna on Wednesday, November 14, 2012 | 10:46 PM
French Veolia Environnement to modernise water distribution in New Delhi - report
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%.