Water firm plans �750m investment

Hundreds of businesses may benefit from a new investment programme being proposed by South West Water (SWW).

The company wants to invest £750m between 2010 to 2015 as part of its Final Business Plan for the period, which it has sent to regulator Ofwat.

It said it wanted to use local suppliers for projects, and contracts would be directly targeted at small and medium-sized businesses.

Business leaders said it would offer many firms a lifeline.

'Terrible recession'

SWW said its new investments were to focus much more on small maintenance schemes rather than large new build projects, which it hoped to use local suppliers to provide skills and equipment for.

Company Chief Executive Chris Loughlin said: "Our intention is to pump hundreds of millions into the regional economy over the five years through hundreds of local businesses in our supply network."

He added that it was part of the company's intentions in its drive for ever-improving services.

The plans have been welcomed by the Devon and Cornwall Business Council.

Tim Jones of the council said: "What we now need to do is make sure that local businesses really get involved in that and take part in that process.

"Here is a great opportunity which could make an immediate impact on local success and help them through this terrible recession."

Ofwat's final decision on the business plan is expected in November.

The water company covers all of Devon and Cornwall, as well as parts of Dorset and Somerset.

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