Saudi Arabia’s Alfanar Project has announced a major collaboration in the water and wastewater sector with Veolia Water Technologies, according to a statement released during the French Saudi Investment Forum.

The Memorandum of Understanding (MoU) signed between the two companies is estimated to be worth SAR 1.7 billion ($453 million), reflecting both the scale and importance of the upcoming projects.

The signing ceremony took place in the presence of esteemed dignitaries, including H.E. Eng. Khalid Al Falih, Saudi Minister of Investment, H.E. Ahmed Al Khateeb, Saudi Minister of Tourism, H.E. Abdullah Alswaha, Saudi Minister of Communications and Information Technology, and Olivier BECHT, Minister for Foreign Trade, Attractiveness, and French Nationals Abroad.

Representatives from both Alfanar Projects and Veolia Water Technologies were present at the ceremony.

Noaman Al Adhami, UK Country Head of Alfanar Projects, and Thierry Froment, Chief Executive Officer of Veolia Middle East, participated in the signing on behalf of their respective organisations.

The collaboration is expected to bring significant advancements in the water and wastewater sector, supporting Saudi Arabia’s ongoing development efforts.

This strategic alliance aims to address the growing demand for efficient water management solutions and contribute to the nation’s sustainable development goals.

This partnership underscores the commitment of both companies to enhancing water infrastructure, promoting efficient resource utilisation, and advancing the Kingdom’s vision for a more sustainable future.

Source: Utilities Middle East