Veolia subsidiary OTV will manage the construction of five water treatment plants in a predominantly agricultural region 150 kilometres from the capital, Colombo, in Sri Lanka's Central Province.
The project also involves the creation of 12 service reservoirs, five pumping stations and more 430 km of transmission and distribution pipes.
"This system will ensure drinking water quality and secure supply for more than 350,000 people," a company statement said.
Another subsidiary, Sade, design and build the 433 km transmission and distribution network.
The company's bid received support from the French government, including a guarantee from the Finance Ministry and finance from a syndicate of banks.
“Veolia is deeply rooted and involved in Asia-Pacific where we have, in particular, built more than 250 drinking water and wastewater treatment plants in the last 20 years," Claude Laruelle, director of Veolia’s Global Enterprises, is quoted as saying in the statement. "Today, we see that in Sri Lanka our solutions are helping an entire region’s development by making it more competitive."
The French-based company employs 174,000 people worldwide.