Arab Energy Fund Consortium Acquires Metito Utilities

A consortium led by the Arab Energy Fund (TAEF), formerly known as the Arab Petroleum Investments Corporation (APICORP), has acquired a 100% stake in Metito Utilities, a Dubai-based global investor and operator specializing in sustainable water management solutions.

The acquisition, conducted in partnership with Saudi Arabia’s Zamil Group Investment Company and the Ghandour family, aligns with TAEF’s strategic vision to enhance energy security and sustainability by investing in critical infrastructure within the water and wastewater management sectors across the Middle East, Africa, and Asia.

Established in 1958, Metito has been a pioneer in the water sector. Metito Utilities, with over 25 years of specialized experience, has successfully executed more than 35 concessions and has been instrumental in delivering public-private partnership (PPP) projects in countries including Saudi Arabia, the United Arab Emirates, Uzbekistan, Egypt, Rwanda, Serbia, and Qatar. These projects have set benchmarks in sustainable water management on a global scale.

Khalid Ali Al-Ruwaigh, CEO of TAEF, emphasized the strategic importance of this investment, stating that the collaboration aims to strengthen regional leadership in addressing water scarcity challenges while delivering long-term value creation. He noted that water and energy are deeply interconnected, and this partnership is poised to accelerate growth and innovation across new and existing markets.

Abdullrahman K. Al Zamil, President of Zamil Group Investment Company, highlighted the significance of water security to the region’s future. He remarked that Metito’s expertise in water management aligns with their commitment to sustainable development, viewing this partnership as a milestone in their journey of contributing to nation-building by bringing proven water solutions to communities and industries in need.

Rami Ghandour, CEO of Metito Utilities, expressed pride in the company’s legacy and its continuous evolution. He reiterated Metito’s commitment to environmental sustainability and outlined plans to leverage their experience in PPP projects to enhance water efficiency and deliver tailored, sustainable water management solutions across emerging markets. Ghandour expressed enthusiasm about leading the future of water management in collaboration with their partners.

This acquisition marks a significant milestone for all shareholders, uniting their shared vision to address global water security challenges while developing long-term environmental, social, and economic value. It aligns with TAEF’s broader strategy to drive sustainable infrastructure development, measurable impact, and contribute to the region’s economic prosperity. The transaction reflects TAEF’s focus on energy and adjacent sectors, showcasing its role as a preeminent impact investor in the MENA region.

Under its new shareholding, Metito Utilities is poised to build on its legacy of innovation and operational excellence, driving sustainable water solutions that make a lasting impact in emerging markets.

The financial details of the acquisition have not been disclosed. However, the strategic importance of this transaction is evident as it brings together key players committed to addressing the pressing issue of water scarcity through sustainable solutions. The collaboration is expected to enhance the development and implementation of innovative water management projects, contributing significantly to the infrastructure and economic growth of the regions involved.

The Arab Energy Fund, headquartered in Riyadh, Saudi Arabia, has been instrumental in financing and supporting energy projects across the MENA region. Its rebranding from APICORP to TAEF reflects a broader mandate to include a wider range of energy-related investments, including sustainable water solutions, recognizing the intrinsic link between water and energy in regional development.

Zamil Group Investment Company, a prominent Saudi Arabian family-owned investment firm, has a diversified portfolio spanning various sectors, including manufacturing, trade, and services. Their participation in this consortium underscores their commitment to sustainable development and addressing critical infrastructure needs in the region.

The Ghandour family, founders of Metito, have a longstanding legacy in the water management industry. Their continued involvement in the company ensures that Metito’s rich history of innovation and commitment to sustainability will persist under the new ownership structure.

Metito’s portfolio includes a range of projects that have been pivotal in advancing water and wastewater management practices. Notably, the company has been involved in the development of the Dammam Independent Sewage Treatment Plant in Saudi Arabia, a project that has set new standards in the region for private sector participation in wastewater treatment.

In Egypt, Metito played a crucial role in the development of the New Cairo Wastewater Treatment Plant, the first public-private partnership project in the country’s water sector. This facility has significantly improved wastewater services for the rapidly growing population of New Cairo.

The company’s expansion into emerging markets is exemplified by its projects in Rwanda and Uzbekistan, where Metito has implemented sustainable water supply and wastewater treatment solutions, contributing to the improvement of public health and environmental standards in these countries.