New World Infrastructure is set to strengthen its links with utility group Lyonnaise des Eaux, following approval of the French firm's merger with Compagnie de Suez.
The new company, Suez-Lyonnaise des Eaux (SLE), will become the world's largest private power, water and waste-management utility, with a combined market value of 70 billion French francs (about HK$93.45 billion).
The merger was sealed by the boards of both firms last Friday, but needs ratification at separate shareholders meetings in mid-June.
If the deal goes ahead, it will pave the way for a massive expansion of infrastructure work, particularly in Asia.
SLE Asia-Pacific president Martin Negre said the aim was to more than double turnover from the region within five years.
'Asia-Pacific is still small - less than 5 per cent of total turnover. But we expect this to grow by way over 10 per cent in the next three to five years,' Mr Negre said.
He said China would be the cornerstone of this growth, although how quickly the market developed depended on the ability of Chinese authorities to agree on a standard list of investment guidelines.
