Suez Creates Agbar Venture to Manage Barcelona Water Supplies
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Suez Environnement, the second-biggest water company in Europe, created a joint venture through its Agbar unit to manage Barcelona’s water supplies and waste for the next 35 years.
The 3.5 billion-euro ($4.8 billion) contract, announced in part in July, will be handled via a venture with Metropolitan Area of Barcelona, according to today’s statement. Agbar will have an 85 percent stake and AMB the balance of a venture that will serve 24 municipalities including Barcelona.