ONDEO selected to manage an urban wastewater contract

ONDEO, a 100% Suez subsidiary, has been declared preferred bidder by the municipality of Pusan to manage the city's wastewater treatment installations through a BOT (Build, Operate and Transfer) contract for a duration of 18 years.

PUSAN, South Korea -- ONDEO, a 100% Suez subsidiary, has been declared preferred bidder by the municipality of Pusan to manage the city's wastewater treatment installations through a BOT (Build, Operate and Transfer) contract for a duration of 18 years.

When awarded, this contract will cover the financing and construction of new wastewater installations including a sewage treatment plant with a 135 000 m� per day capacity and a 24 km collecting network. ONDEO Services and ONDEO Degr�nt have joined forces for this tender which also includes the management of wastewater installations in Pusan.

The investment package for this BOT is worth 160 million euros for a contract that is expected to generate revenue estimated at 490 million euros.

The consortium is formed of ONDEO (65%), SAMSUNG ENGINEERING (20%) and a Korean Chaebol KHUMO INDUSTRIAL (15%). Financial terms and contract details are in the process of being finalised with local authorities in Pusan.

Pusan is the second largest town in South Korea with 4 million inhabitants and is currently experiencing strong economic and infrastructure development. It has been retained as a host for the next Football World Cup and will be organising the 14th Asian Games in 2002.

ONDEO is already firmly implanted on South Korea's municipal market through its subsidiaries ONDEO Services and ONDEO Degr�nt. They offer water-related services from plant design and construction through to management of water installations. In Pusan and Yangju, ONDEO installations will soon be capable of treating a combined daily volume of 210 000 m� per day. As for industrial solutions, last year ONDEO Nalco registered revenues of US$ 25 million thus maintaining the Group's premier position for water-related solutions in South Korea.

ONDEO currently serves 23 million customers in the Asia Pacific region. Already present in China, Australia, Malaysia, Indonesia and the Philippines, ONDEO hereby strengthens its presence in Asia and reinforces its position as the world's premier water solutions provider.

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