Metito to pumps investments into Egypt operations

The company’s investments will be allocated to support liquidity and provide additional working capital

  
Image used for illustrative purpose. Spectacular view of Cairo: river Nile, Hilton, Opera, museum of modern Egyptian art, Sheraton, Gezira.

Image used for illustrative purpose. Spectacular view of Cairo: river Nile, Hilton, Opera, museum of modern Egyptian art, Sheraton, Gezira.

Getty Images

ArabFinance: UAE-based water treatment company Metito plans to earmark 30% of the $20 million loan it recently secured from the International Finance Corporation (IFC) to its Egypt unit, the company said in a press release.

The company’s investments will be allocated to support liquidity and provide additional working capital, rather than to make capital investments.

The loan was disbursed as part of the IFC’s $8 billion COVID financing facility to support businesses through the pandemic.

The company launched its plant, Al Yosr, in Egypt in 2018, with a capacity of 80,000m³/day which was then followed by the largest desalination plant in Egypt to date, Al Galala, with a capacity of 150,000m³/day.

Metito is a global leader and provider of choice for total intelligent water management solutions with operations covering three business areas: design and build, speciality chemicals, and utilities.

With over 60 years of experience, the company offers services from clean to dirty water, desalination and re-use, industrial solutions (up to hyper pure water), investing in water and wastewater assets, and structuring both Greenfield and Brownfield schemes under project finance structures.

The group’s portfolio includes more than 3000 projects in more than 46 countries with more than 3,000 employees.

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