Industry leaders Hassan Allam Holding and Abdul Latif Jameel Energy form joint venture to develop water projects in Egypt

HAH and Abdul Latif Jameel Energy form JV to develop water projects in Egypt

10 April 2019

JV agreement between HA Utilities and Almar Water Solutions to develop and invest in utility water projects in Egypt Hassan Allam Holding (HAH), a leading construction and engineering group headquartered in Cairo, Egypt, serving national, regional, and global clients in the Middle East and North Africa, has formed a joint venture with Abdul Latif Jameel [Energy]to provide upstream solutions form municipal and industrial clients, including water and wastewater management. The JV will be established through the companies’ respective subsidiaries HA Utilities (HAU) and Almar Water Solutions. Drawing on the extensive sector experience of leadership at HA Utilities and Almar Water Solutions, the JV will work on developing water BOT and BOO projects in Egypt, with an active role as both a Special Purpose Vehicle (SPV) investor and an Operation and Maintenance (O&M) supplier. It will also explore acquisitions of brownfield assets and O&M service companies to accelerate recurring revenue generation. The JV is currently studying a number of greenfield projects of different sizes with various offtakers. Commenting on the joint venture, Amr Allam, Co-CEO of Hassan Allam Holding, said: “Hassan Allam Holding prides itself on an extensive track record of successfully delivering infrastructure facilities, especially within the water treatment sector. As such, we are excited about the opportunity to cooperate with a company such as Almar Water Solutions to further expand the scope of our business offering through investing, developing, and operating water solutions projects. This JV serves as a strong example of our continued commitment to support Egypt’s development.” Mr. Fady M. Jameel, Deputy President & Vice Chairman of Abdul Latif Jameel, the primary shareholder in Almar Water Solutions also commented: “The JV with HAU gives us an exceptional opportunity to contribute to the sustainable development of Egypt’s water resources by establishing a successful framework for delivering modern and efficient assets that can address the water needs of Egypt’s growing population.”