Veolia, Paris, France, announced this past week through its subsidiary Veolia Korea, that it has won a 10-year contract to supply steam to Hongwon Paper Manufacturing (Seoul, South Korea). This EUR 150 million contract is the first energy services contract for Veolia in South Korea. 

The steam provided by Veolia to Hongwon, the fourth largest paper company in South Korea, will allow the company to produce 350,000 metric tpy of paper and coat 150,000 metric tpy of paper.

This contract follows the acquisition by Veolia of the boiler facility, which has the capacity to produce 330,000 tons of steam per year. Under this contract, Veolia will improve the overall performance of heat production, especially combustion quality. This will further reduce the facility’s carbon dioxide emissions by 3%. Veolia’s efforts will help address the challenge of greenhouse gas reduction in South Korea.

 "This is Veolia’s first energy services contract in South Korea. It is a starting point for Veolia to develop its business in Asia’s promising energy sector, whose growth opens up new opportunities to reinforce the performance of energy facilities." said Régis Calmels, the company’s senior EVP for Asian operations.