Veolia Environnement, a world leader in environmental solutions, is expected to sign three new contracts in waste treatment in China this week, company sources say.
The move to expand the company's presence in China came after Veolia's recent purchase of Cleanaway Asia, whose operations are mostly based in China's Taiwan Province and the mainland, said Jorge Mora, CEO of Veolia Environnement Asia.
Cleanaway is a major operator in municipal and industrial waste collection and integrated waste management services.
Cleanaway Asia's operations will expand the market share of waste treatment for Veolia Environnement in China, said Mora.
In terms of revenue, the waste treatment branch currently accounts for about 40 percent of its total operations in China. The water treatment services take up the rest, as the energy and transportation branches are just starting.
In 2005, Veolia's revenue from Asia hit US$1.7 billion - a 29 percent increase over the previous year - and executives say it could increase another 25 percent annually for the next five years.
Veolia Environnement, covering water, waste management, energy optimization and transportation, witnessed revenue of 25.2 billion euros (US$32.05 billion) in 2005.
According to the company's half-year report this year, its consolidated revenue amounted to 14 billion euros (US$17.8 billion), compared to 12.3 billion euros (US$15.4 billion) on June 30, 2005, a rise of 13.7 percent year-on-year.
(China Daily November 2, 2006)