• Accelerates innovative solutions to address water insecurity and drive long-term value in emerging markets.
  • Reaffirms a shared commitment to clean water accessibility, resource optimization, and environmental stewardship.

Riyadh, Saudi Arabia — The Arab Energy Fund (TAEF), formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector, has successfully led a consortium to acquire a 100% stake in, and provide further growth capital to, Metito Utilities, a global investor, developer and operator of sustainable water management solutions and climate-resilient water assets.

This landmark transaction, in partnership with Zamil Group Investment Company and the Ghandour family, aligns with TAEF’s strategic vision to advance energy security and sustainability by driving impactful investments that address critical infrastructure needs in water and wastewater management across the Middle East, Africa, and Asia.

Metito has been an industry leader in the water sector since 1958, and Metito Utilities has over 25 years specialized experience in the investment, development, and long-term operation and maintenance of water and wastewater concessions. It has a proven-track record of over 35 successful concessions and has a long-standing legacy of pioneering water and wastewater, delivering first Public-Private Partnerships (PPPs) projects in the sector in countries as such Saudi Arabia, the United Arab Emirates, Uzbekistan, Egypt, Rwanda, Serbia, Qatar and beyond, and setting benchmarks in sustainable water management on a global scale.

Khalid Ali Al-Ruwaigh, CEO of TAEF, said: "The investment in Metito Utilities marks a strategic milestone in TAEF’s mission to advance sustainable infrastructure and energy value chains. Water and energy are deeply interconnected, and this collaboration, alongside our partners Zamil Group Investment Company and the Ghandour family, as well as Metito Utilities’ talented team, allows us to strengthen regional leadership in addressing water scarcity challenges while delivering long-term value creation. We aim to accelerate growth and innovation across new and existing markets.”

Abdullrahman K Al Zamil, President of Zamil Group Investment Company, said: “We have consistently sought opportunities that combine business excellence with meaningful impact. Water security is fundamental to our region's future, and Metito's expertise in water management aligns perfectly with our commitment to sustainable development. As a family business that has witnessed and participated in the region's transformation, we see this partnership as another milestone in our journey of being partners in building nations, bringing proven water solutions to communities and industries that need them most.”

Rami Ghandour, CEO of Metito Utilities, said: “We are proud of our legacy, and the continuous evolution that has brought us to where we are today. While this transformation marks a new era for Metito, our commitment to a cleaner environment remains at the heart of everything we do.  With this strengthened partnership, we aim to expand our positive impact by leveraging our experience in PPP projects to enhance water efficiency and deliver tailored, sustainable water management solutions across the pan-emerging markets. Together with our valued partners, we are excited to lead the way forward in shaping the future of water management.’

This acquisition marks a significant milestone for all shareholders, uniting their shared vision to address global water security challenges while developing long-term environmental, social, and economic value.

It aligns with TAEF’s broader strategy to drive sustainable infrastructure development, measurable impact and contribute to the region’s economic prosperity. This transaction reflects TAEF’s focus on energy and energy adjacent sectors, showcasing its role as a preeminent impact investor in the MENA region.

Under its new shareholding, Metito Utilities is poised to build on its legacy of innovation and operational excellence, driving sustainable water solutions that make a lasting impact in emerging markets.

About The Arab Energy Fund

The Arab Energy Fund is a multilateral impact financial institution focused on the MENA energy sector established in 1974 by the ten Arab oil-exporting countries. The Arab Energy Fund’s mission is to enable a secure and sustainable energy future for the region through a comprehensive range of financing and direct equity solutions and expert advisory services across the entire energy value chain to leading public and private sector business partners in 25 countries. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially-linked projects comprising 20% of its USD 5.3bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-’ by S&P.

 View The Arab Energy Fund’s ESG Policy Framework here.

For more information about The Arab Energy Fund, please visit: www.apicorp.org

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For more information, please contact:
Raeda Al-Sarayreh
The Arab Energy Fund
Email: ralsarayreh@taef.com

Zara Siddiqui        
Edelman Smithfield
Email:zarasiddiqui@taef.com

About Metito Utilities

Impact. Sustainability. Innovation. Guided by these founding principles, Metito Utilities is a global investor, developer, and operator of sustainable water management solutions and climate-resilient water assets. The company has built over 25 years of expertise in public private partnerships (PPP), having successfully delivered over 35 transformative projects across Saudi Arabia, the UAE, Qatar, Egypt, Uzbekistan, Rwanda, Serbia, and beyond. 

Notable achievements include a leadership position in China’s wastewater sector (2008–2018), managing 1.8 million m³/day of treatment capacity, enhancing water network monitoring capabilities through its acquisition of Portugal-based DouroECI and scaling climate-resilient water infrastructure investments across Africa through its the Africa Water Infrastructure Development (AWID) platform, launched with British International Investment (BII).

Established in 1958, Metito has been a pioneer in delivering cutting-edge water solutions worldwide. As the first to introduce, it resents decades of excellence in engineering, operation and innovation. As pioneers in introducing reverse osmosis desalination technology beyond the USA in 1972, Metito has consistently delivered cutting-edge water solutions worldwide.

For more information, please contact:
Ecem Akineri
Metito Utilities
Email: ecem.akineri@metito.com

About Zamil Group Investment Company 

Zamil Group Investment Company is the Investment arm of Zamil Group. Zamil Group story began when Shaikh Abdullah Hamad Al Zamil, from Unaizah, in Al Qassim Saudi Arabia established his first trade and services business in Bahrain, the region’s trading hub at the time. The business had expanded into real estate and by 1959, built the tallest building in Khobar at the time. 

Zamil Group remained prosperous throughout the Country’s economic and industrial era, and over the coming decades, achieved notable milestones, such as becoming the first family company to be listed on Saudi Arabia’s stock exchange. Today, Zamil Group is the ‘go to’ partner for local and international markets. The Founder’s century old legacy is a diverse investment holding company, dedicated to adding value to its stakeholders, and being Partners in Nation Building.

For more information, please contact:
Corporate Communications 
Zamil Group Holding Company
Email: communications@zamil.com