The French group is acquiring General Electric's waterworks arm with Canadian pension fund manager CDPQ.
The federal government is planning over US$14bn in tenders for public-private partnerships in 2017-18.
Government says the cash - which the United Arab Emirates this year pledged to provide to help the country repair storm-damaged infrastructure - has now been deposited.
Authorities in the Argentine province working to tackle flooding and ensure safety of residents.
Santa Catarina state water utility Casan is planning to call bids for a sewerage project in the city of Videira.
The payments, made between 2006 and 2014, were tied to political campaigns and construction projects.
The investment will serve to complement a national policy on wastewater treatment issued by the government this week.
President cuts ribbon on two projects and breaks ground on a third, which has two phases.
The water and wastewater company operates in 47 municipalities in nine states.