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Almar Water Solutions acquires 58 desalination plants in Egypt

  • This new contract marks the first successful portfolio addition by the joint venture created last April with Hassan Allam Utilities BV (HAU).
  • With this new acquisition, Almar Water Solutions consolidates its global strategy of growing through the awarding of new projects and the acquisition of assets, while strengthening its services line, which will be responsible for operating and maintaining the plants.

Cairo, Egypt – October 20, 2020 – Almar Water Solutions, a leading global developer of water infrastructure solutions and part of Abdul Latif Jameel Energy, has closed a deal for the acquisition of a services company in Egypt dedicated to providing desalinated water to industrial clients and the tourism sector.

This new contract marks the first successful portfolio addition by the joint venture created last April with Hassan Allam Utilities BV (HAU), the public utilities and investment unit of the leading regional construction and engineering group Hassan Allam Holding (HAH).

The 58 assets have a total owned installed desalination capacity of 82,440 cubic meters of drinking water per day and were acquired through the purchase of Ridgewood Egypt. Most of the plants provide fresh water to the commercial, tourism and industrial sectors, which are dependant on the supply of safe drinking water to ensure their activities.

Following the signing of the contract, Carlos Cosín, CEO of Almar Water Solutions, said that “after months of work with the team from Hassam Allam Utilities BV, we are proud to say that the agreement is a complete success, and we look forward to developing new projects together in the future.  With this new contract, Almar Water continues to expand rapidly beyond its portfolio of new, ‘greenfield’ projects under development with assets already in operation (or so-called ‘brownfield’ projects) expanding and diversifying our services, with additional capacity of over 80,000 m3/day of drinking water.  The acquisition of the Ridgewood Group also cements Almar Water Solutions’ entry into the Egyptian market, a strategic country for the company”.

6.-Ridgewood-Acquisition-2

After Shuqaiq 3, (Saudi Arabia), Muharraq (Bahrain) and Osmoflo (Chile), the acquisition of Ridgewood consolidates the path of rapid and sustainable growth that Almar Water Solutions began at its creation, adding to a diversified portfolio.  In addition to its offices in the Middle East, Europe, Africa and Latin America, Almar now has two regional platforms, Chile and Egypt, from which to continue its growth in markets with extensive water infrastructure needs.

The United Nations predicts that by 2025, Egypt could reach the level of “absolute water (availability) crisis”, dropping to levels of less than 500 cubic meters of water per capita, posing a serious problem both for the agricultural sector, which accounts for more than 80% of water use, and for the population in general (*).

The opportunities for private sector involvement in Egypt are becoming increasingly evident in water projects, particularly in desalination and wastewater.  The development and private financing of desalination facilities has evolved considerably, largely due to the need to ensure water resources.

Almar Water Solutions, whose vision is to provide the municipal and industrial sector with potable water in areas that are experiencing shortages, remains firmly committed to the region, contributing experience and financial capacity to achieve greater water availability for all.

(*) Source: EGYPT Enabling Private Investment and Commercial Financing in Infrastructure, World Bank Group

 

About Almar Water Solutions:

Almar Water Solutions is a company specializing in the development, promotion, financing, design and operation of water infrastructure. Its team of professionals, with over two decades of experience in 25 countries leading major water infrastructure projects, works tirelessly to develop integral solutions that meet growing needs for water in the municipal and industrial sectors. For more information, visit almarwater.com

About Abdul Latif Jameel:

Abdul Latif Jameel refers broadly to distinct separate and independent legal entities whose interests encompass automotive distribution, auto parts manufacturing, financial services, renewable energy, environmental services, land and real estate development, logistics, electronics retailing and media services.  Abdul Latif Jameel positions itself as a preferred business partner primarily for inward investment into the Middle East, North Africa and Turkey (MENAT) region.  For more information, visit alj.com

 About Hassan Allam Utilities:

Hassan Allam Holding is a leading Egyptian engineering and construction group whose primary operations include infrastructure, power, industrial, petrochemical and special building projects in Egypt and the MENA region. The founders of Hassan Allam Holding commenced operations in 1936, making it one of the oldest construction groups in the MENA region with a solid reputation, superior technical capabilities, and a diversified portfolio. With a legacy of identifying and investing in attractive infrastructure projects, in the past five years it has delivered over 70 projects worth over USD 3 billion and has a current backlog of around USD 3.5 billion as of May 2018. For more information, visit www.hautilities.com.

 About Hassan Allam Holding:

HA Utilities is an asset developer and investment platform for power, renewables, and water-related opportunities that address the underserved energy market and growing demand for infrastructure in Egypt and the region. Established in 2017, the platform focuses on partnerships to develop and operate renewable power as well as water desalination and treatment projects. For more information, visit www.hassanallam.com.

 

For further information:

Almar Water Solutions

C/ María de Molina, nº 39

Planta 6ª 28006 Madrid

T: +34 917 026 712

E: manuel.garcia@almarwater.com

 

Industry leaders Almar Water Solutions and Hassan Allam Utilities form joint venture to develop water projects in Egypt

  • JV agreement between Almar Water Solutions and HA Utilities will work on developing water BOT and BOO projects in the country.

Cairo, Egypt – 10 April 2019

Almar Water Solutions (“Almar”), a leading water infrastructure development company and part of Abdul Latif Jameel Energy, has formed a joint venture with Hassan Allam Utilities (HAU), the utilities and investment arm of leading regional construction and engineering group Hassan Allam Holding (HAH).

Leveraging on the experience of both Almar Water Solutions and HA Utilities management teams in water infrastructure development, the JV will work on developing water BOT and BOO projects in Egypt, with an active role as both a Special Purpose Vehicle (SPV) investor and an Operation and Maintenance (O&M) supplier. The JV strategy will also include acquisitions of brownfield assets and O&M service companies to accelerate recurring cash flow generation.

The JV is currently studying a number of greenfield projects of different sizes with various offtakers.

Commenting on the joint venture, Carlos Cosin, CEO of Almar Water Solutions, said: “We are thrilled to be partnering with a company with such a strong foothold in an extremely exciting market like Egypt, which we feel has significant untapped potential in terms of water infrastructure development. Our partnership with HAU allows us to strengthen our contribution to socio-economic development of the MENA region by extending innovative solutions and expertise within water treatment and desalination across both the municipal and industrial markets.”

Menatalla Sadek, CEO of HA Utilities, added: “Our business model is highly embedded in utilizing our in-house experience and the capabilities of HAH to support and develop the full spectrum of a project, from development and financing to operations and management. Almar’s highly experienced team draws on decades of experience in the industry. This winning combination is exactly what we look for when pursuing JV opportunities and we’re confident that with this partnership, we will be able to further unlock the potential in one of our core sub-platforms, water desalination and treatment.”

About Almar Water Solutions

Almar Water Solutions is a company specializing in the development, promotion, financing, design and operation of water infrastructure. Its team of professionals, with over two decades of experience in 25 countries leading major water infrastructure projects, works tirelessly to develop integral solutions that meet growing needs for water in the municipal and industrial sectors. For more information, please visit https://www.almarwater.com/

About Abdul Latif Jameel

Abdul Latif Jameel refers broadly to distinct separate and independent legal entities whose interests encompass automotive distribution, auto parts manufacturing, financial services, renewable energy, environmental services, land and real estate development, logistics, electronics retailing and media services.  Abdul Latif Jameel positions itself as a preferred business partner primarily for inward investment into the Middle East, North Africa and Turkey (MENAT) region. For more information, please visit https://www.alj.com/

About Hassan Allam Holding

Hassan Allam Holding is a leading Egyptian engineering and construction group whose primary operations include infrastructure, power, industrial, petrochemical and special building projects in Egypt and the MENA region. The founders of Hassan Allam Holding commenced operations in 1936, making it one of the oldest construction groups in the MENA region with a solid reputation, superior technical capabilities, and a diversified portfolio. With a legacy of identifying and investing in attractive infrastructure projects, in the past five years it has delivered over 70 projects worth over USD 3 billion and has a current backlog of around USD 3.5 billion as of May 2018. For more information, visit http://www.hassanallam.com.

About Hassan Allam Utilities

HA Utilities is an asset developer and investment platform for power, renewables, and water-related opportunities that address the underserved energy market and growing demand for infrastructure in Egypt and the region. Established in 2017, the platform focuses on partnerships to develop and operate renewable power as well as water desalination and treatment projects. For more information, visit www.hautilities.com.

 

For further information

Almar Water Solutions                                           

C/ María de Molina, nº 39

6th Floor – 28006 Madrid

T: +34 917 026 712

E: manuel.garcia@almarwater.com

 

Hassan Allam Utilities        

Hoda Yehia

Investor Relations Director

T: +20 2 2265 9027

E: hoda.yehia@hassanallam.com