PHOTO
Alpha Dhabi Holding, a unit of Abu Dhabi’s International Holding Company, will acquire a majority stake in Dubai-headquartered Metito Holdings, a global developer and operator of water and wastewater projects.
The majority stake will be purchased from Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital, the Abu Dhabi-listed investment holding company said in a statement.
No financial details were given.
In May 2023, a consortium of Egypt’s Orascom Construction and Metito was awarded a build, own, operate and transfer (BOOT) contract for a $2.4 billion (8.8 billion UAE dirhams) centralised seawater treatment and water transportation project in Abu Dhabi.
Read more:
UAE’s Metito part of winning consortium for mega desalination project in India
UAE’s Metito, UK’s BII jointly launch new platform to fund climate-smart water projects
Metito and partners in talks with Egypt's sovereign fund for mega desalination project
Saudi's SWPC issues RFP to bidders for Jazan cluster project
(Writing by P Deol; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.