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Severn Trent given green light to invest £565m and create 2,500 new jobs in the Midlands

Projects including installing 150,000 smart meters, earmarking two rivers for wild swimming and removing old lead pipes

Severn Trent chief executive Liv Garfield(Image: Severn Trent)

Water company Severn Trent has pledged to create 2,500 new jobs in the Midlands as part of a huge industry-wide investment programme to help fund the º£½ÇÊÓÆµ's green recovery.

The Coventry business plans to invest £565 million in projects including installing 150,000 smart meters, earmarking two rivers for wild swimming and removing old lead pipes.

It follows regulator Ofwat's pledge to water companies to take action and help support a green bounce-back from the Covid-19 pandemic.

Liv Garfield, Severn Trent chief executive, said: "We're really pleased by Ofwat's endorsement of our ambitious Green Recovery plans. Whilst we still need to go through the finer details of the announcement, we're delighted that Ofwat shares our enthusiasm for this impressive range of proposals, which we believe will benefit all our customers.

"Our communities, and the environment they care about, are at the heart of what we do. The Green Recovery programme is a key element in the Government's plans to get the nation back on its feet and improve the environment."

"This investment into our region will see us lead the way by delivering a number of º£½ÇÊÓÆµ firsts including new, innovative trials to reduce the risk of flooding, increased water supplies and transformed stretches of river. What's more, we will also be creating 2,500 jobs in the Midlands at a time when increasing employment, and getting people back into work, is vital for our region.

"We'll be accelerating our capital spend to deliver these impressive plans and to achieve our existing commitments earlier.

"Together with our Green Recovery programme, the investments we are making will play a significant role in providing communities with the confidence that the Midlands can bounce back better than before."