Veolia Middle East CEO Xavier Joseph targets significant growth

Veolia has investment capacity of $200 million for power and water projects across the Middle East and North Africa (MENA) for 2018, regional chief executive Xavier Joseph has told Emirati news outlet The National.

In an interview, Joseph said: “We invest through public-private partnerships and with the help of debt, $200 million is the global amount of money we can mobilise through project financing.”

The company intends to bid for large scale desalination projects in Abu Dhabi and Saudi Arabia, and to increase significantly the share of group revenue that comes from the region, which currently stands at two percent.

Joseph confirmed that Veolia is submitting an expression of interest (EOI) for the large scale Taweela desalination plant project unveiled by Abu Dhabi Water And Electricity Authority in January 2017. Additionally, it is targeting $2.5 billion of desalination projects in Saudi Arabia, including in Shuqaiq, Yanbu, and Jubail, as well as new upcoming opportunities.

Additionally, the company formed part of the consortium that won Salalah desalination project in Oman, for which financial close is expected in Q2 2018.

Veolia has already entered Egypt, and has its sights on a waste-to-energy acquisition in Turkey that would transform its presence there.