(MENAFN - Daily News Egypt) Hassan Allam Holding (HAH), a leading construction and engineering group, announced on Wednesday the formation of a joint venture (JV) 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.
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.
Amr Allam, Co-CEO of Hassan Allam Holding, said that his company prides itself on an extensive track record of successfully delivering infrastructure facilities, especially within the water treatment sector. As such, they 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.
On the other hand, Fady Jameel, deputy president and vice chairperson of Abdul Latif Jameel, the primary shareholder in Almar Water Solutions also said '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.'