The French water company Veolia Environnement SA (VIE) said its U.K. environmental services unit signed a 25-year waste management contract with authorities in Leeds that’s worth about 460 million pounds ($735 million).
The municipal waste treatment and energy recovery agreement includes constructing a recycling facility that the unit said will save Leeds about 200 million pounds when compared with the cost of putting residual waste in landfills.
Energy recovered from the East Leeds industrial area facility, where building is expected to begin next year, will supply the National Grid with enough electricity to power 20,000 households. The facility should open in the spring 2016.
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