PARIS--(BUSINESS WIRE)--Oct. 29, 2024-- Regulatory News:

On the occasion of the president of the French Republic Emmanuel Macron's state visit to Morocco, Veolia (Paris:VIE) and the Kingdom of Morocco signed today a MOA for the establishment of a strategic partnership to develop on an exclusive basis a seawater desalination project that will be the largest in Africa and the second largest in the world. It will supply drinking water to regions of the Kingdom particularly affected by drought.

Located near Rabat on the Atlantic coast, the project will be structured as a public-private partnership, involving the construction, financing and operation for 35 years, by Veolia, of a seawater desalination plant. With a capacity of 822,000 m3 of drinking water per day, or 300 million m3 per year, it will ensure the supply of the Rabat-Salé-Kénitra and Fès-Meknès regions to meet the water needs of nearly 9.3 million inhabitants.

This initiative is part of the Moroccan national energy strategy, launched by His Majesty King Mohammed VI, which aims to strengthen water supply security and to face the challenges of climate change.

As a global leader in water technologies, Veolia will bring the best of its cutting-edge expertise in desalination for a reference plant in terms of efficiency, innovation and environmental protection. Its operational expertise will also ensure high plant performance by balancing investment and operating costs, thus ensuring the most competitive water price over the entire life cycle of the facility. The facility could be powered by low-carbon electricity, mainly from renewable sources.

Against a backdrop of climate change, which is particularly affecting the Mediterranean region, this partnership comes at a time when Morocco is facing unprecedented water stress.The country is experiencing its worst drought for 40 years, with rainfall continuing to decline and reservoirs at historically low levels, threatening agriculture, drinking water supplies and, more broadly, the country's economy. Seawater desalination is therefore becoming an essential solution to these urgent challenges.

Estelle Brachlianoff, CEO of Veolia, said: "With a long history of partnership, we are thrilled and honoured to write this new page with the Kingdom of Morocco and Moroccan citizens to meet the challenges related to the environment and water. We are fully aware of the urgency of the situation and proud to contribute to this major project, which will strengthen the country's water resilience. We will put the best of our international expertise and our long-standing presence in the region at the service of the Kingdom for a reference project in terms of performance and sustainability."

ABOUT VEOLIA

Veolia's ambition is to become the benchmark company for ecological transformation. With nearly 218,000 employees on five continents, the Group designs and deploys useful, practical solutions for managing water, waste and energy that help to radically change the world. Through its three complementary activities, Veolia contributes to developing access to resources, preserving available resources and renewing them. In 2023, the Veolia group served 113 million people with drinking water and 103 million with wastewater services, produced 42 terawatt-hours of energy and recovered 63 million metric tons of waste. Veolia Environnement (Paris Euronext: VIE) generated consolidated sales of €45.3 billion in 2023.

www.veolia.com

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GROUP MEDIA RELATIONS
Laurent Obadia - Evgeniya Mazalova
Anna Beaubatie - Aurélien Sarrosquy
Charline Bouchereau

Tel.+ 33 (0) 1 85 57 86 25
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INVESTORS RELATIONS
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Tel. +33 (0) 1 85 57 84 76
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Source: Veolia