(MENAFN- Daily News Egypt) Ramy Ghandour, CEO of Metito Utilities Limited, which specializes in investing in water assets, operating smart water management solutions and alternative energy, said that the AWID platform, which was launched last month in cooperation with the British Investment Corporation, is studying a number of water desalination projects in Egypt.
He told Daily News Egypt that the start will be through two desalination projects in Egypt, provided that expansion takes place in Africa and the start of larger projects, especially in countries such as Algeria, Ghana, Nigeria, as well as North African countries.
The new Africa Water Infrastructure Development (AWID) investment platform is the first of its kind in developing climate-smart water projects and enhancing water security across Africa.
Ghandour explained that the ownership structure of the new platform is distributed by 60% in favor of the Metito company, while the remaining 40% will go to the British Investment Corporation.
He explained that the aim of launching this platform is to create a business model for providing infrastructure for the water sector in Africa and the promotion of long-term investment projects in this sector, and the platform's investments will contribute to the integration of environmentally friendly technologies and alternative energy sources in infrastructure projects in the water sector in order to reduce the environmental footprint.
Ghandour expected that the gap between supply and demand for water in Egypt and Africa would widen due to several factors. This has been dealt with in an advanced and progressive manner through recycling and using agricultural drainage water, groundwater and water desalination in coastal areas.
He added that water desalination and renewable energy projects in general have been witnessing remarkable growth in Egypt recently through partnership between the private and government sectors.
In a related context, he revealed that Metito aims to pump billions of pounds in investments in 2023 and 2024 in renewable energy projects in Egypt to develop the largest possible number of projects.
Ghandour explained that the investments will be from Metito or through partnerships with major institutions to implement the targeted projects.
AWID will finance water and wastewater treatment plants; The platform will also develop and establish world-class facilities with the aim of increasing access to safe and sustainable water. The company will also focus specifically on countries most vulnerable to the impacts of climate change.
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