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By Zheng Lifei (China Daily)
Updated: 2007-07-19 14:52

SUEZ Environment, one of the world's largest water and waste treatment service providers, plans to pour 100 million euros a year into China over the next five years to capitalize on the country's soaring water and waste treatment business.

SUEZ Environment, which manages the water and waste businesses of French utility giant SUEZ SA, also expects to maintain 15 percent annual growth in revenue in China at the same time, said Jean-Louis Chaussade, executive vice-president of SUEZ SA.

"The Chinese government's efforts to build an environmentally friendly economy and country will translate into huge business opportunities in areas we cover such as water and waster treatment sectors," said Chaussade, who also serves as the CEO of SUEZ Environment.

"We have generated over 15 percent growth annually in the past years in China and expect to maintain it in the next five years," the CEO said.

China accounts for a "larger chunk" of SUEZ Environment's business in its Asia operations, Chaussade said.

The region accounted for about 5 to 6 percent of its global revenue of 11.4 billion euros in 2006, the CEO said.

The French firm inaugurated a 53 million euro incineration plant in Shanghai yesterday, its second single largest investment in China, said the CEO.

The French giant's water and sewage treatment joint venture in Chongqing, a deal signed last year, will involve an investment of 100 million euros, becoming its single largest investment project in China since its entry into the country more than three decades ago.

The incinerator, located in Shanghai Chemical Industry Park, is designed to treat all forms of hazardous waste produced by industrial and petrochemical customers in the park and by other major industries in the city.