The acquisition underscores AH Water Investments BV’s strategy to invest, develop, and operate water solution projects in Egypt to support the nation’s sustainable development plans
Cairo, Egypt – 20th October 2020
(Cairo, Egypt) – Hassan Allam Holding (HAH), a leading construction and engineering group headquartered in Cairo, Egypt and Almar Water Solutions, a leading player in developing and investing in water infrastructure projects announced today that AH Water Investments BV –H. A. Utilities BV, and Almar Water Solutions BV joint venture- has added c.60 water desalination plants to its portfolio through the acquisition of leading water desalination company Ridgewood Egypt.
The acquisition marks the first successful portfolio addition by the joint venture (JV), which was set up primarily to draw on the extensive local and sector experience of Hassan Allam Holding (parent of H.A. Utilities) and Almar Water Solutions to develop water projects in Egypt that fall in line with the nation’s Vision 2030.
Ridgewood Egypt, a major player in Egypt’s water desalination sector with a market share of c. 60%, builds, operates, manages and owns water desalination plants, where it uses reverse osmosis technology. Ridgewood owns and operates a total installed desalination capacity of c.80,000 cubic meters per day, serving a diverse variety of clients across Egypt’s coastal cities. The company provides services through both central and exclusive BOO stations. With over 22 years of experience in the industry, Ridgewood Egypt is a pioneer in BOO-based water desalination facilities. The company primarily serves the commercial, tourism and industrial sectors through c. 60 desalination plants.
AH Water Investments BV JV was formed in 2019 between Hassan Allam Holding and Abdul Latif Jameel Energy through the companies’ respective subsidiaries H.A. Utilities and Almar Water Solutions. The JV provides upstream solutions for municipal and industrial clients, including water desalination, as well as wastewater and industrial water treatment. The JV will continue to develop water BOT and BOO projects in Egypt, as an owner and operator.
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About Hassan Allam Holding
Hassan Allam Holding is a leading Egyptian engineering and construction group whose primary operations include infrastructure, power, industrial, petrochemical and complex large-scale building projects in Egypt and the MENA region. The founders of Hassan Allam Holding commenced operations in 1936, making the oldest construction franchise 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 5 billion and has a current backlog of around USD 5 billion. For more information, visit www.hassanallam.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: www.alj.com
About Almar Water Solutions
Almar Water Solutions, part of Abdul Latif Jameel Energy, 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 www.almarwater.com.
About H. A. Utilities
H.A. 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.
Contacts:
Hassan Allam Holdings:
Hoda Yehia
Corporate Communications and Investor Relations Director
Tel: +20-2-2265-9027
Email: hoda.yehia@hassanallam.com
www.hassanallam.com
Almar Water Solutions:
Manuel Garcia
Business Development and Marketing Manager
Tel: +34 910 312 635
Email: manuel.garcia@almarwater.com
www.almarwater.com