Alpha Dhabi set to buy majority shares in desal and wastewater treatment giant Metito: One of UAE’s biggest conglomerates, Alpha Dhabi Holding, is planning to acquire a majority stake in local water management solutions provider Metito Holdings pending regulatory approvals, according to a company statement. The agreement would help finance Metito’s plans to expand its smart water solutions across the MENA region, the statement said. The two companies did not disclose the size or value of the stake to be purchased.

Who’s selling? Alpha Dhabi said it plans to acquire the stake from Metito's selling shareholders Japan’s Mitsubishi Corporation and Mitsubishi Heavy Industries, as well as Abu Dhabi-based asset manager Gulf Capital. Metito’s founding shareholders — the Ghandour family — will continue to manage the firm.

What they said: “Together, we aim to address the pressing water challenges, especially in the MENA region, which is the most water-stressed region globally,” Metito co-CEO Talal Ghandour said. “We are poised to make significant contributions to sustainable solutions, especially as the UAE’s Year of Sustainability and COP28 gain traction,” co-CEO Rami Ghandour added.

Metito is expanding regionally: The water development company is in talks to establish four desalination plants to support Egyptian green hydrogen production facilities, Metito Managing Director Karim Madwar told Al Mal in July. Metito partnered with Taqa, Orascom Construction (OC), and the Abu Dhabi National Oil Company (Adnoc) in May to establish a USD 2.4 bn mega seawater treatment and water supply project in the UAE. Metito is also currently constructing the Al Mahsama agricultural drainage treatment plant in Sinai, Egypt and a treatment and recycling plant in Sharjah, UAE.

And is entering partnerships to facilitate financing for water projects in Africa: In March, Metito launched the investment platform Africa Water Infrastructure Development (AWID) in partnership with British International Investment with the aim of reducing funding gaps in sustainable water projects. The AWID-Metito JV has been seeded with a desalination project in Egypt’s Sharm El Sheikh and a water treatment facility in Kigali, Rwanda.

About Alpha Dhabi: The state-linked firm is a subsidiary of one of the UAE’s most valuable companies, International Holding Company, and works in sectors including construction, hospitality, and healthcare. It is also one of the largest shareholders in Aldar — the new co-owners of Egyptian real estate giant SODIC alongside Abu Dhabi sovereign wealth fund ADQ. Alpha Dhabi went public on the ADX over the summer.