UK water projects set to receive £500m EU grant
Posted on: 09/05/2016

UK Water and wastewater projects are set to receive a £500 million grant from the European Investment Bank (EIB). A number of projects are included in the five-year plan, including a £200 million extension to wastewater treatment works in Liverpool.

The largest listed water company, United Utilities, will use the 18-year loan to accommodate improvements across the north west of England. The firm giant currently serves 7 million domestic and 200,000 business customers.

Some of the projects that will be included in the loan includes a proposed pipeline to link West Cumbria to Thirlmere and the rest of the regional water network, an increased sewer capacity in Blackpool, and the provision of water meter to customers.

Russ Houlden, Chief Financial Officer at United Utilities said: “In 2015-20 we are delivering an investment programme of around £3.5 billion for the benefit of customers and the environment and to improve our ability to cope with climate change.

“We aim to do this at the lowest sustainable cost possible in order to keep bills down and this low cost funding from the EIB helps us to give our customers excellent value for the bills they pay.”

The EIB is the world’s largest international public bank and is 16% owned by the UK Government.

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