By Sean Cronin
Joint venture already in process of tendering for water projects with gov'ts, developers.
UAE-based Metito has tied up with Germany’s Berlinwasser to invest as much as $1 billion in water projects across the Middle East, North Africa and China.
The new company will be called Metito Berlinwasser. The joint venture is already in the process of tendering for water projects with governments and masterplan developers across the region, according to Rami Ghandour, executive director of Metito Utilities.
“With a $120 billion expected to be invested in the water industry regionally over the next decade, this was a way of saying that we’re committed and focused on the region,” he said on Monday.
Gulf states are investing billions of dollars in large-scale water projects to cope with surging populations and a regional building boom that has stretched capacity.
Berlinwasser is one of the largest integrated wastewater and water utility service providers in Europe, serving 10 million consumers worldwide through public-private partnership projects.
Metito Berlinwasser will focus on long-term government projects ranging from operating and maintenance contracts to long-term investments in running water and wastewater assets.