Almar Water Solutions announced that it has completed the acquisition of a Sewage Treatment Plant investment in Muharraq STP Company BSC (MSC) from Mubadala Infrastructure Partners (MIP), an emerging markets infrastructure fund manager.
MSC has a 29-year concession to build, own and operate (BOO) a 100,000 cubic meters per day state of the art wastewater treatment plant and a sewer conveyance system in the Muharraq catchment area of the Kingdom of Bahrain. The conveyance system includes the first 16.5 km deep gravity sewer trunk pipeline in the GCC region and a wastewater collection network. The concession was signed with the Ministry of Works in 2011 and the facility commenced operations in 2014. According to the World Health Organization, 40% of wastewater in the MENA region goes untreated making this a critical sector for environmental sustainability. The project was developed in partnership with Samsung Engineering Ltd of Korea and United Utilities International Ltd of the United Kingdom.
This acquisition increases the Almar’s portfolio of wastewater and reuse assets, reinforcing its activity. This acquisition also provides Almar with an exceptional opportunity to contribute to the water sector’s development in Bahrain and all GCC countries. Recently Almar Water Solutions, through its parent company Abdul Latif Jameel, has been awarded a PPP contract to develop a desalination plant in the city of Shauqaiq, on the Red Sea coast of Saudi Arabia and another PPP contract to develop Kenya’s first large-scale desalination plant.
Investcorp and Aberdeen Standard Investments (ASI) have announced the launch of a joint venture that will invest in social and core infrastructure projects in Gulf Cooperation Council (GCC)...
Read moreThe King Fahd Causeway Authority has launched a tender for the appointment of a Transaction Advisor for the King Hamad Causeway project, which involves the development of a second causeway o...
Read moreSaudi Arabia’s ambassador to Bahrain has stated publicly that the tender for the King Hamad Causeway, a 25km road and rail bridge that will cross the Gulf of Bahrain, will be launched in&nb...
Read moreAn advisor to the Transport Minister of Bahrain has stated publicly that the Ministry plans to tender its first metro project next year. The metro rail system will span 109km and cost betwee...
Read moreAsma Capital has agreed to buy a stake in Utico, a private United Arab Emirates utility company of the water business, in a deal worth US$147 million.
Read more