The company, which pumps water to millions of households and business across the English Midlands, said the financing would come from investors, half of which would be provided by Qatar.
It will help fund nearly 13 billion pounds of investments by the end of the decade, creating thousands of jobs.
"By 2030 we will have transformed our network to provide our customers with the very best service," Severn Trent's chief executive Liv Garfield said in a statement.
"At the heart of this ambition is a commitment to a sustainable future -- from healthier rivers, to providing thousands of jobs, fewer leaks and a water supply ready for the impacts of climate change and population growth," she added.
The announcement comes after a UK regulator this week ordered water companies in England and Wales to return a combined 114 million pounds to customers for failing to meet performance targets, including over river pollution.
The UK's biggest supplier Thames Water, which recently secured a cash injection from shareholders as it struggles to stay afloat, was ordered to return the highest amount at 101 million pounds.
"We've listened hard to our customers -- not only will we make sure we keep building on our sector-leading track record, but we will also work to make our region proud of their water company," Garfield said.
The British government in July announced that any company or individual polluting the country's rivers and other ecosystems would be liable for unlimited fines.
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