Cost overruns on the Victorian desalination plant in Melbourne are still hitting the bottom line of Suez Environnement, Europe’s second largest water company reported on 1 August 2012.
The Melbourne desalination plant, for which Suez subsidiary Degrémont is part of the constructing consortium, is almost completed and should be at full capacity in December, CEO Jean-Louis Chaussade said in a statement.
In total, the order has cost the company € 237 million in net income last year and € 52 million in the first six months of 2012.
Suez reported an 82% drop in first-half profits with net income falling to € 40 million from € 221 million the previous year.