People living in south Wales could find their
water quality improving after a utility firm received a £100 million loan to help pay for
wastewater treatments.
The European Investment Bank (EIB) has lent the huge sum to Dwr Cymru Welsh Water, which will use the loan to fund part of a proposed £250 million upgrade of water services in the area.
Around £109 million in total will be spent on updating wastewater treatments, while £86 million will be earmarked for sewage works.
More money will also be spent on finding ways to improve pipes in a bid to reduce the amount of water lost through leakage.
Company chairman Robert Ayling believes the loan can help the water board maintain high standards of water quality for its customers.
"The EIB continues to be a very important source of secure finance for Welsh Water and we look forward to continuing to work with the bank in the future," he remarked.
This week, the EIB has lent 80 million euros (£68.62 million) to a German organisation, as it looks to build the country's first offshore wind farm.
Posted by Joseph Hutton
.jpg)
Product directory
.jpg)
.jpg)
