Abdul Latif Jameel Energy has stepped up its active participation in the Middle East’s water sector with two deals expanding its presence in Egypt and Bahrain.
Almar Water Solutions, Abdul Latif Jameel Energy’s dedicated water solutions unit, formed a joint venture with HA Utilities(HAU), part of Hassan Allam Holding (HAH), to provide sustainable water infrastructure solutions to municipal and industrial clients across Egypt.
Drawing on the extensive sector experience of both companies, the JV will work on developing sustainable water solutions, including water and wastewater management, and BOT1 and BOO2 projects in Egypt. The JV also intends to take an active role as a Special Purpose Vehicle (SPV) investor and an Operation and Maintenance (O&M) supplier, as well pursuing new greenfield projects, and exploring acquisitions of brownfield assets and O&M service companies.
These investments follow our strategy to own and operate water assets in the region and beyond. The Middle East and Africa faces some of the most pressing water challenges anywhere in the world as rapid development and growing populations putting pressure on already scarce water resources. Almar’s expertise in desalination and waste-water management can deliver sustainable solutions and meet this growing demand.”
In a second, separate transaction, Almar acquired Mubadala Infrastructure Partner’s water investment in Muharraq STP Company (MSC), which has a 29-year concession to build, own and operate a 100,000 cubic meter/day, state of the art wastewater treatment plant and sewer conveyance system in the Kingdom of Bahrain. The conveyance system includes the first 16.5 km deep gravity sewer trunk pipeline in the GCC region and a wastewater collection network.
Speaking on the agreements, Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, said: "These transactions mark further significant steps forward for Almar Water Solutions and Abdul Latif Jameel Energy’s growth across the region, which has recently included winning contracts to develop one of the world’s largest desalination projects in Al Shuqaiq on the Red Sea coast of Saudi Arabia, and Kenya’s first large-scale desalination plant in the county of Mombasa, which together will supply drinking water to close to three million people."
[1] BOT: Build-Own-Transfer business model
[2] BOO: Build-Own-Operate business model
