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Arab Energy Fund-led group buys Dubai-based Metito

By Pramod Kumar
A view of Metito's Dammam sewerage plant in Saudi Arabia. The company has delivered over 35 concessions and PPP projects in the Gulf and beyond Metito
A view of Metito's Dammam sewerage plant in Saudi Arabia. The company has delivered over 35 concessions and PPP projects in the Gulf and beyond

A consortium led by the Arab Energy Fund (TAEF), formerly Apicorp, has acquired a 100 percent stake in Metito Utilities, a Dubai-based water and wastewater project developer.

The acquisition was carried out in collaboration with Saudi Arabia’s Zamil Group Investment Company and the Ghandour family, the founders of Metito.

No financial details were given.

Metito has more than 25 years of experience in the investment, development and long-term operation and maintenance of water and wastewater concessions.

The company has delivered over 35 concessions and implemented public-private partnership (PPP) projects in Saudi Arabia, the UAE, Uzbekistan, Egypt, Rwanda, Serbia and Qatar.

Khalid Ali Al-Ruwaigh, CEO of TAEF, said the strategic investment will accelerate growth and innovation across new and existing markets.

Rami Ghandour, CEO of Metito Utilities, said the company aims to leverage its experience in PPP projects to enhance water efficiency and deliver tailored, sustainable water management solutions across the pan-emerging markets.

In May 2024, UAE-headquartered Alpha Dhabi Holdings cancelled plans to acquire a majority stake in Metito Holdings after announcing its intention to buy stakes held by Mitsubishi Corporation, Mitsubishi Heavy Industries and Gulf Capital.

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