(Reuters) – Water industry regulator Ofwat said on Monday it plans to approve 31 investment schemes, worth about 1.6 billion pounds ($1.96 billion), to “deliver benefits for customers and the environment” in England.
Work on the schemes, which includes measures to improve water quality and install smart metres, will begin from 2023 to 2025, Ofwat said.
In October last year, Ofwat and Defra, a government department responsible for agriculture, environmental protection and food production, had invited companies to propose schemes to accelerate investment in water resilience, storm overflows and nutrient neutrality.
Ofwat, which oversees the privatised water and sewerage industry in England and Wales, said it seeks to invest 1.1 billion pounds for improving over 250 storm overflows and reducing the average number of yearly spills.
The remainder of the proposed investment would go into new water resource and quality projects, schemes to install smart meters, and to help reduce nutrient pollution and support nutrient neutrality, the regulator added.
($1 = 0.8143 pounds)
(Reporting by Muhammed Husain in Bengaluru; Editing by Nivedita Bhattacharjee)