PARIS — Veolia Environnement, Europe's largest water utility, plans to expand its water treatment services to the global mining industry, according to an article by Reuters.
The company expects its revenue to double to $2.1 billion by 2020 as it gains a larger share of the mining and metals wastewater treatment industries, the article reported.
Veolia CEO Antoine Frerot said these industries are the world's second-biggest user of water after agriculture, and represent pretax margins of around 10 percent.
Frerot sees tightening environmental regulation as an opportunity in the mining industry, continued the article, to help company's generate more revenue by recycling raw materials in wastewater and facilitating water recycling.
"We treat their waste water, we are the last wheel of the wagon for them, a cost that is increasingly mandatory because of tightening regulation," Frerot said.
Read the full article here.
