United Water to invest millions in U.S. water infrastructure projects
United Water celebrates fulfilling its Clinton Global Initiative commitment to attract long-term investment to improve municipal water systems.
HARRINGTON PARK, NJ, Sept. 27, 2013 -- On Thursday, Sept. 26, United Water announced its achievements in fulfilling its Clinton Global Initiative (CGI) commitment to attract long-term private investment to improve municipal water systems. For the first time in this country, this program enables local authorities to clear millions of dollars of accumulated debt while investing in valuable infrastructure.
Established in 2005 by President Clinton, CGI convenes global leaders to create and implement innovative solutions to the world's most pressing challenges, including significant water issues. These solutions must be measurable and game changers in their markets.
After the first year of its CGI commitment, United Water is on track to invest $20 million in the first five years in the city of Bayonne, N.J.'s municipal water infrastructure, for example, and $130 million overall. Already, state-of-the-art metering technology is being installed in customers' homes and businesses, enabling the implementation of a smarter water network. Additionally, workers have been trained and outfitted with new equipment to protect their safety and allow them to work more efficiently.
During the same five-year timeframe, United Water will invest $1 billion in assets across the country to update aging infrastructure, preserve water and maintain reliable service for customers.
United Water’s SOLUTIONSM and its CGI Commitment to Action respond directly to growing national awareness that it will take up to $1 trillion over the next two decades to renew the country’s aging water and sewer systems and to make old cities more resilient.
"We are proud of the progress we've made thus far and we are confident we have a successful model that will allow for a high level of investment in water infrastructure for any U.S. city that chooses to adopt it," said Bertrand Camus, United Water chief executive officer, who presented the SOLUTIONSM business model to President Bill Clinton at the annual CGI meeting in New York last year.
ABOUT UNITED WATER
United Water is one of the nation’s leading environmental companies, providing water and wastewater services to approximately 5.5 million people in the United States. In addition to owning and operating 16 water and wastewater utilities, United Water operates 90 municipal and industrial water and wastewater systems through innovative public-private partnerships and contract agreements. Founded in 1869, United Water is a subsidiary of SUEZ ENVIRONNEMENT.
About SUEZ ENVIRONNEMENT
Natural resources are not infinite. Each day, SUEZ ENVIRONNEMENT (Paris: SEV, Brussels: SEVB) and its subsidiaries deal with the challenge of protecting resources by providing innovative solutions to industries and to millions of people. SUEZ ENVIRONNEMENT supplies drinking water to 97 million people, provides wastewater treatment services for 66 million people and collects the waste produced by 50 million people. SUEZ ENVIRONNEMENT has 79,550 employees and, with its presence on a global scale, is a world leader exclusively dedicated to environmental services. SUEZ ENVIRONNEMENT, reported sales turnover of 14.8 billion Euros ($19.6 billion USD) at the end of financial year 2012.