Severn Trent announces £2.5billion investment and 1,000 jobs in the area as it admits sewage problems should have been dealt with faster
IN the face of mounting criticism of water companies over sewage pollution of seas and rivers, Coventry-based Severn Trent says it will spend more than £2.5 billion in the next two years on network improvements covering the entire Midlands.
It says it will also create 1,000 new jobs as well as increase its existing financial support for up to 50,000 customers who need it most.
At the same time, however, the company – which in the past year recorded a pre-tax profit of £509 million – increased its shareholder dividend to £260 million. And its chief executive, Liv Garfield, was remunerated to the tune of £3.9 million in 2021-22.