Alpha Dhabi Holding, a unit of Abu Dhabi’s International Holding Company, will acquire a majority stake in Dubai-headquartered Metito Holdings, a global developer and operator of water and wastewater projects.
The majority stake will be purchased from Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital, the Abu Dhabi-listed investment holding company said in a statement.
No financial details were given.
In May 2023, a consortium of Egypt’s Orascom Construction and Metito was awarded a build, own, operate and transfer (BOOT) contract for a $2.4 billion (8.8 billion UAE dirhams) centralised seawater treatment and water transportation project in Abu Dhabi.
(Writing by P Deol; Editing by Anoop Menon)
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