Veolia will build water and wastewater treatment facilities in Assiut and Cario to address "water scarcity and power outages" in Egypt.
Through its subsidiary Veolia Water Technologies, a contract was signed with Egyptian Electricity Holding Company to build water and wastewater treatment plants for Assiut Supercritical Power Plant and Cairo West Power Plant.
Veolia's contract covers construction of the plants, but it is unclear how much its contract is worth, or when building work will begin.
Veolia said in a statement that it was its "extensive experience in the power generation market" that helped it win the project.
As part of the country's Vision 2030 strategy, Egypt is investing heavily to deliver sustainable urban development and economic growth at a time when the Egyptian pound faces steep devaluation.
Not only is the country's economy struggling, but Egypt has faced water scarcity and power outage issues, according to Veolia, which said it was proud to be providing a solution.
"Through Veolia Water Technologies’ customised design, build, and operational services and treatment facilities we are able to cater to the Egyptian market’s needs," said the chief operating officer of Veolia Water Technologies Middle East, Thierry Froment.
"We are proud to be part of the solution of addressing the water scarcity and power outages in the country," he added.
Veolia Water Technologies has a team of around 200 staff in Egypt. This workforce comprises mainly of engineers and technicians, many of whom who will help the Assiut Supercritical Power Plant and Cairo West Power Plant operate at full capacity.
France-headquartered Veolia is a big player in the water and waste management space, generating billions of dollars in revenue every year. It has notable expansion plans for the Middle East and North Africa, having earlier confirmed it would inject up to $200m (AED735.5m) in power and water projects in the region, with the company mentioning Saudi Arabia and the UAE as markets of interest.
Since this announcement, Veolia has signed a memorandum of understanding with Sadara Chemical Company to build a sustainable central utilities complex in Saudi Arabia's PlasChem park. This project will include the development of waste management and waste energy units.