Veolia signs $943m deal with China

A logo of Veolia Environnement is seen on the lectern during the company's 2014 annual results presentation in Paris in this February 26, 2015 file photo. [Photo/Agencies]

PARIS - French company Veolia, a world leading company in water, waste and energy management, on Wednesday announced it has signed three deals worth 864 million euros ($943 million) with China.

Under the accords, Veolia will "provide a suite of solutions ... to improve (Chinese) clients' energy performance and to help them comply with the regulations for the new Chinese regulations of environmental standards," it said in a press release.

Via its subsidiary Veolia China, the company won 341-million-euro project to bolster production of electricity and steam from biomass for chemicals and construction clients.

The 25-year-old?plan will include construction, operation and maintenance of a biomass plant in North China's Hebei province in a bid to increase the use of renewable energy in the region's energy mix.

The second deal worth 335 million euros is expected to improve energy performance management at the site of Shandong Hongda Chemical, one of China's leading industrial groups in East China's Shandong province, mainly by reducing costs.

Under the third accord, Veolia plans to build a chilled water plant for a data center in China's main information technology hub in Beijing to help clients comply with the very stringent standards for energy efficiency in the region.

"These new contracts reflect China's growing need for renewable energy and the management of the energy performance to reduce their environmental footprint and meet the requirements of the new regulations," said Regis Calmels, Veolia Senior Executive Vice President Asia.