Metito re-launches Saudi Arabia operations
Water firm plans to invest $133m in country in next three years
Metito has formally re-launched its water and wastewater work in Saudi Arabia, and has reported its plans to invest US $133 million in the country’s water sector over the next three years. The company returned to operating in the country a year ago, and has seen its project portfolio grow to over $16m in that time. The company now plans to make a substantial investment in the Kingdom, particularly in the area of recycling and reusing water.
“We were adamant to come back today to Saudi Arabia and harness our resources to build an operational backbone that can support Metito in playing an effective role in the development of the water, desalination and wastewater industry,” said Metito managing director Fady Juez at the press conference to announce the re-launch.
The firm has said that it continued to evaluate the Saudi market during the period where it was absent from the country, and has now structured its business model to best provide its water services in the country.
A number of Metito’s recent projects have centred on investment in Iraq’s water sector, with the firm announcing in April that it was investing over $10 million in Iraqi sewage plants and wastewater projects.