Cairo-based Hassan Allam Holding (HAH) has formed a joint venture (JV) with Abdul Latif Jameel Energy to provide upstream solutions form municipal and industrial clients, including water and wastewater management, Invest-Gate reports.
The JV will be established through the companies’ respective subsidiaries, HA Utilities (HAU) and Almar Water Solutions, according to a press release on April 10.
It will handle the development of water build–operate–transfer (BOT) and build-own-operate (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 operations and maintenance (O&M) service companies to accelerate recurring revenue generation.
The JV is currently studying a number of greenfield projects of different sizes with various off-takers, the statement added.
Commenting on the JV, Amr Allam, co-CEO of HAH, said, “Hassan Allam Holding prides itself on an extensive track record of successfully delivering infrastructure facilities, especially within the water treatment sector.” He added, “This JV serves as a strong example of our continued commitment to support Egypt’s development.”
For his part, Fady M. Jameel, deputy president and vice chairman of Abdul Latif Jameel, noted, “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.”