Suez SA and partners won a €2 billion ($2.3 billion) water-services contract in Oman, the French firm’s largest deal in the Middle East. The companies will help Oman’s water utility improve operations and preserve resources under the 15-year agreement, Suez said in a statement on Monday. The deal is a sign that the Persian Gulf region, where multiple countries have been affected by the US-Iran war, continues to attract investment as governments work to address water shortages amid growing demand. Suez and its partners are tasked with reducing leaks, modernizing four desalination plants, maintaining more than 20 wastewater-treatment plants and boosting water reuse. Suez will own 51% of the joint venture managing the contract, Chief Executive Officer Xavier Girre told Bloomberg.
Key Takeaways
- The companies will help Oman’s water utility improve operations and preserve resources under the 15-year agreement, Suez said in a statement on Monday.
- The deal is a sign that the Persian Gulf region, where multiple countries have been affected by the US-Iran war, continues to attract investment as governments work to address water shortages amid growing demand.
- Suez and its partners are tasked with reducing leaks, modernizing four desalination plants, maintaining more than 20 wastewater-treatment plants and boosting water reuse.
- Suez SA and partners won a €2 billion ($2.3 billion) water-services contract in Oman, the French firm’s largest deal in the Middle East.
- Suez will own 51% of the joint venture managing the contract, Chief Executive Officer Xavier Girre told Bloomberg.