#Water Stocks Alert: Veolia
(Paris:VIE) to Manage #Sinopec's #Beijing Yanshan Petrochemical Entire #Water
Cycle
PARIS
& BEIJING - July 28, 2016 (Investorideas.com Newswire) Regulatory News:
Sinopec, Asia's and China's largest refiner, has chosen Veolia (Paris:VIE),
through its subsidiary Veolia China, to operate the entire water cycle of its
Yanshan petrochemical complex.
The revenues
generated by this contract throughout its 25-year duration will be 3.27 billion
euros for Veolia. The dedicated joint-venture between Yanshan Petrochemical and
Veolia, consolidated by Veolia, will employ more than 800 people.
Located 50 km from
downtown Beijing, Yanshan Petrochemical is a fully-owned subsidiary of Sinopec.
The complex is one of the largest production bases of synthetic rubber,
synthetic resin, phenol acetone and high-quality refined oil products in China.
It processes over 10 million tons crude oil and produces 800,000 tons ethylene
annually. It can produce 94 varieties with 431 grades of petrochemical
products.
Following the
mutual trust established through their previous cooperation, Veolia and Beijing
Yanshan Petrochemical have chosen to expand the scope of their partnership to
the entirety of the water cycle management, including cooling water,
demineralized water, industrial water, drinking water, chilled water, waste
water and firefighting water of the Yanshan facilities. Veolia will work at
optimizing the water consumption within the site and increasing the water
recycling rate. A direct result of such optimization will be the decrease in
fresh water consumption as well as of Beijing Yanshan Petrochemical's water
footprint, an important achievement in a region that suffers water scarcity and
shortages.
Veolia is also in
charge of upgrading the wastewater treatment facility to bring it into
compliance with the newest and most stringent standard in the Beijing area, and
one of the most stringent standards worldwide for water discharge. Finally, the
contract also comprises a comprehensive energy optimization program covering
all water production facilities onsite. The achieved reduction in energy
consumption per m3 of water produced will be a major contribution to Beijing
Yanshan Petrochemical's efforts to reduce its carbon footprint.
Antoine Frérot,
Chairman and Chief Executive Officer of Veolia, declared: "The
responsibilities that Sinopec has entrusted Veolia confirm how two companies
can partner up to provide the best services in their respective fields. Through
this contract, Veolia will help Sinopec implement the best environmental
standards and technologies to make its Beijing Yanshan site a reference in
China. This contract confirms the refinery sector can perfectly keep producing
while being committed to significantly reduce its environmental
footprint."
Veolia has been
present in Asia since the 1990s. The Group is currently active in water
production and wastewater treatment for public authorities and industrial
concerns; municipal, industrial and hazardous waste collection, management and
recovery; and energy services. With 14,200 employees in China, Veolia currently
manages around 60 contracts in 40 cities. Veolia has been working with
Sinopec's Beijing Yanshan Petrochemical since 2006 when they first signed a
partnership for the management of wastewater treatment and wastewater reclaim
facilities.
Veolia group is the
global leader in optimized resource management. With over 174 000 employees
worldwide, the Group designs and provides water, waste and energy management
solutions that contribute to the sustainable development of communities and
industries. Through its three complementary business activities, Veolia helps
to develop access to resources, preserve available resources, and to replenish
them.
In 2015, the Veolia
group supplied 100 million people with drinking water and 63 million people
with wastewater service, produced 63 million megawatt hours of energy and converted
42.9 million metric tons of waste into new materials and energy. Veolia
Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of
€25 billion in 2015. www.veolia.com
Read this release
in full at http://www.investorideas.com/news/2016/water/07281.asp
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