Veolia Wins EUR 156 Mln Contract In Sri Lanka

(RTTNews) - French resource management firm Veolia Environnement (VE) reported Monday that it has won a 156 million euros contract from the Sri Lankan National Water Supply and Drainage Board.

Through its subsidiaries OTV and SADE, Veolia will help provide access to water on a large scale in the Greater Matale area, a predominantly agricultural region.

Veolia, through its subsidiary OTV, has just been appointed project manager for the construction of five new water treatment plants in the region along with 12 service reservoirs, five pumping stations and more 430 km of transmission and distribution pipes.

Another Veolia subsidiary, SADE will act as subcontractor to design and build the 433 km transmission and distribution network.

The company said the contract was made possible with the support of local French government services through a financial scheme combining export credit from a syndicate of banks, with a guarantee from the French Ministry of Finance and a local commercial loan from HNB bank and treasury bonds.