In this paper, a new mixed integer nonlinear programming formulation is proposed for optimally placing and operating pressure reducing valves and chlorine booster stations in water distribution networks. The objective is the minimization of average zone pressure, while penalizing deviations from a target chlorine concentration. We propose a relax-tighten-round algorithm based on tightened polyhedral relaxations and a rounding scheme to compute feasible solutions, with bounds on their optimality gaps. This is because off-the-shelf global optimization solvers failed to compute feasible solutions for the considered non-convex mixed integer nonlinear program. The implemented algorithm is evaluated using three benchmarking water networks, and they are shown to outperform off-the-shelf solvers, for these case studies. The proposed heuristic has enabled the computation of good quality feasible solutions in most instances, with bounds on the optimality gaps that are comparable to the order of uncertainty observed in operational water network models.