Saudi Arabia’s Alfanar has announced it has joined forces with Veolia Water Technologies to collaborate in the water and wastewater sectors, read a statement launched during the French Saudi Investment Forum reports Utilities Middle East.
The recently inked Memorandum of Understanding (MoU) between the two companies carries a value of SAR 1.7 billion ($453 million), underscoring the magnitude and significance of the imminent ventures.
The signing ceremony took place in the presence of esteemed dignitaries, including H.E. Eng. Khalid Al Falih, Saudi Minister of Investment, H.E. Ahmed Al Khateeb, Saudi Minister of Tourism, H.E. Abdullah Alswaha, Saudi Minister of Communications and Information Technology, and Olivier BECHT, Minister for Foreign Trade, Attractiveness, and French Nationals Abroad.
Representatives from both Alfanar Projects and Veolia Water Technologies were present at the ceremony.
Noaman Al Adhami, UK Country Head of Alfanar Projects, and Thierry Froment, Chief Executive Officer of Veolia Middle East, participated in the signing on behalf of their respective organisations.
The collaboration will support Saudi Arabia’s continuing development efforts by working together on advancements in the water and wastewater sector and addressing the growing demand for efficient water management solutions.
