The Arab Energy Fund (TAEF), previously known as APICORP, is a prominent multilateral financial institution dedicated to the MENA energy sector. It has successfully spearheaded a consortium to acquire a complete 100% stake in Metito Utilities, a global leader in sustainable water management solutions and climate-resilient water assets, while also providing additional growth capital.
This significant transaction, executed in collaboration with Zamil Group Investment Company and the Ghandour family, aligns with TAEF’s strategic aim to enhance energy security and sustainability by making impactful investments that address critical infrastructure requirements in water and wastewater management throughout the Middle East, Africa, and Asia.
Since its inception in 1958, Metito has been a pioneer in the water industry. Metito Utilities boasts over 25 years of specialized experience in the investment, development, and long-term operation and maintenance of water and wastewater concessions. With a proven track record of successfully managing over 35 concessions, Metito has established a legacy of innovation in water and wastewater management, having initiated the first Public-Private Partnerships (PPPs) in countries such as Saudi Arabia, the United Arab Emirates, Uzbekistan, Egypt, Rwanda, Serbia, and Qatar, setting global benchmarks for sustainable practices.
Khalid Ali Al-Ruwaigh, CEO of TAEF, commented, “Investing in Metito Utilities represents a strategic milestone in TAEF’s mission to promote sustainable infrastructure and energy value chains. The interconnection between water and energy is profound, and this partnership, alongside Zamil Group Investment Company and the Ghandour family, along with the talented team at Metito Utilities, enables us to enhance regional leadership in tackling water scarcity issues while creating long-term value. Our goal is to foster growth and innovation in both new and existing markets.”
Abdullrahman K Al Zamil, President of Zamil Group Investment Company, stated, “We have always pursued opportunities that merge business excellence with significant impact. Water security is crucial for our region’s future, and Metito’s expertise in water management aligns seamlessly with our dedication to sustainable development. As a family business that has actively participated in the region’s evolution, we view this partnership as another landmark in our commitment to nation-building, delivering proven water solutions to communities and industries in need.”
Rami Ghandour, CEO of Metito Utilities, expressed, “We take pride in our legacy and the ongoing evolution that has brought us to this point. While this transformation signifies a new era for Metito, our dedication to a cleaner environment remains central to our mission. With this enhanced partnership, we aim to broaden our positive impact by utilizing our experience in PPP projects to improve water efficiency and provide customized, sustainable water management solutions across emerging markets. Together with our esteemed partners, we are eager to lead the future of water management.”
This acquisition is a major milestone for all stakeholders, uniting their common vision to tackle global water security challenges while creating long-term environmental, social, and economic value.
It aligns with TAEF’s overarching strategy to promote sustainable infrastructure development, generate measurable impact, and contribute to the region’s economic growth. This transaction highlights TAEF’s focus on energy and related sectors, reinforcing its position as a leading impact investor in the MENA region.
With its new ownership structure, Metito Utilities is well-positioned to build upon its legacy of innovation and operational excellence, advancing sustainable water solutions that create a lasting impact in emerging markets.
Source :Metito
