Veolia wins landmark Saudi water deal
Paris, April 29, 2008
France's Veolia Water on Tuesday said it won a contract for water production and distribution and waste water collection in Riyadh, in what the company said was the first such Saudi contract awarded to a private operator.
The six-year deal will have estimated total revenues of only 40 million euros ($62.64 million), but may lead to further deals for Veolia, the world's biggest water company, in Saudi Arabia.
The kingdom said last month it needed to spend around $60 billion over the next 20 years to meet its surging water needs.-Reuters