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Abu Dhabi-listed utilities company TAQA is buying the outstanding shares of Sustainable Water Solutions Holding Company (SWS Holding) for AED 1.7 billion ($463 million).
SWS Holding is the parent company of Abu Dhabi Sustainable Water Solutions Company (ADSWS), which is responsible for wastewater collection, and production of recycled water in Abu Dhabi.
ADSWS has a network of 13,000 km of sewer pipelines and a water treatment capacity of 1.3 million cubic metres per day from 43 plants, with a regulated asset value of around AED 17.5 billion, TAQA said.
SWS Holding, which signed a consortium agreement last month to develop Uzbekistan’s largest wastewater treatment plant, aims to expand internationally as part of its long-term growth strategy.
Jasim Husain Thabet, TAQA’s group CEO and managing director, said bringing the water treatment business inside TAQA would help optimise its water production, usage and reusage, while aligning with its net zero strategy.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)