Veolia to invest in UK
2nd September 2016 | Recycling
French water and waste group, Veolia, plans to invest £750 in its British recycling business in the next five years, announced UK Chief Executive Estelle Brachlianoff. Gradually rising landfill taxes have been a major revenue driver for the company in Britain, where revenues are about £2bn, making it the second-largest market after France.
She told Reuters in an interview “We expect Britain will be a major growth area for Veolia in the coming five years as we help this country become greener”. 75% of Veolia’s UK revenue comes from waste recycling, and the rest from energy services and water. Britain imposes a steadily increasing landfill tax which is now about £85 per tonne. The tax has been consistent and predictable and as a result waste operators have invested in processes and infrastructure, meaning that the 80% of waste which was sent to landfill 20 years ago has more than halved.
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