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Updated · Bloomberg · Jun 29Suez Wins €2 Billion Oman Water Contract, Its Largest Mideast Deal
2 articles · Updated · Bloomberg · Jun 29Summary
- Suez and its partners secured a €2 billion water-services contract in Oman, marking the French company’s biggest deal in the Middle East.
- The 15-year agreement will have the group work with Oman’s water utility to improve operations and preserve water resources.
- Suez disclosed the award in a statement on Monday, valuing the contract at about $2.3 billion.
Insights
After a €657 million loss, can a service-only contract in Oman secure Suez's future in a nationalizing Middle East market? As Gulf nations reclaim water assets, is Suez's Oman deal a strategic masterstroke or a sign of declining foreign influence?