Mubasher: Veolia plans to pump about $200 million into water, energy, and water desalination projects in the MENA region in the coming period.
The French water and wastewater firm will boost its investments in MENA through partnerships in water and desalination projects, especially in Saudi Arabia and Abu Dhabi, said Veolia’s CEO for Middle East Xavier Joseph.
In the Kingdom, the environmental services provider eyes a desalination project at a value of $2.5 billion in the industrials cities located in Saudi cities of Jubail, Shuqaiq, and Yanbu.
Joseph forecast that the privatisation of the Saudi water distribution sector in the next period could generate annual operating revenues ranged between $4 billion to $5 billion for private sector participants.
“[In the UAE] Veolia plans to bid for the world’s largest desalination facility in Abu Dhabi, a 200 million Imperial gallon a day project announced earlier this month by the Abu Dhabi Water & Electricity Authority (Adwea),” according to ConstructionWeek Online.
“In Egypt, the company provides facilities management (FM) services to Majid Al Futtaim's Mall of Egypt and Mall of Alexandria via Enova, a Veolia-MAF joint venture (JV),” the Middle East's construction and contracting portal added.
Veolia’s MENA revenues represented about 2% of its annual receipts, The National newspaper said.
In 2019, the firm aims to forge partnerships with the Saudi utilities sector and implement further expansions.
In December 2017, the French company signed an agreement with Oman-based Dhofar International Development and Acwa Power to build a 25-million-gallon RO desalination plant.
