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Monday, December 4, 2023

SUEZ to Boost Investment in China’s Water and Waste Management Market

BusinessSUEZ to Boost Investment in China's Water and Waste Management Market

SUEZ Group, a leading French environmental solutions provider, plans to deepen its investment in China’s water and waste management market. This move is in response to the increasing priority given by the Chinese government to environmental initiatives, according to Sabrina Soussan, SUEZ Chairwoman and CEO. In a recent interview in Beijing, Soussan said that the company anticipates continued revenue growth from the Chinese market between 2023 and 2027. This growth will come as a result of the country’s efforts to attract foreign capital, promote modern service industries and expand market access. SUEZ is well-positioned to contribute to these initiatives as it has worked with local partners for over 50 years, playing a role in China’s transition to a low-carbon economy. Soussan added that SUEZ sees great business potential in China and aims to develop a long-term strategic partnership in the country.

At a ceremony held in Beijing on Thursday, the company signed a cooperation agreement with its Chinese partners Wanhua Chemical Group and China Railway Shanghai Engineering Bureau Group for a seawater desalination project in Penglai district of Yantai in Shandong province. The project will further SUEZ’s commitment to China’s ecological transition and broaden the company’s scope of cooperation with Wanhua. Soussan said China will remain one of the top growth areas for SUEZ, if not the top one.

SUEZ has built more than 400 water and wastewater treatment plants in China to date, providing drinking water and waste services to over 25 million people. The company’s new hazardous waste management project, in partnership with Shanghai Chemical Industry Park and Shanghai Automotive Industry Corp, is set to be commissioned in mid-2023. With China’s economy projected to grow by 5 percent in 2023 and the government’s continued prioritization of environmental protection, SUEZ is committed to expanding its existing business in water, waste and energy management sectors in China this year and in the years to come.

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