Metito Holdings
Reem Saleh
Head of Communications
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Alpha Dhabi's Majority Stake Acquisition in Metito Holdings Reaffirms Ongoing Commitment to Addressing Global Water Scarcity
- Abu Dhabi, United Arab of Emirates - Monday, 25. September 2023
- AETOSWire
- The strategic move supports the objectives of the UAE’s Year of Sustainability and the upcoming COP28, marking Alpha Dhabi’s inaugural foray into the water and wastewater sector.
- The acquisition is a cornerstone of Alpha Dhabi Climate Capital, focusing on climate-conscious investments.
Alpha Dhabi Holding (ADX: ALPHADHABI), one of the fastest-growing investment holding companies in the United Arab Emirates (UAE), has announced its acquisition of a majority stake in Metito Holdings Ltd., a global leader in the water and wastewater industry.
The acquisition sees Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital, showcasing Alpha Dhabi’s unwavering confidence in Metito’s expertise and future potential.
Eng. Hamad Salem Al Ameri, CEO of Alpha Dhabi, commented: “With nearly half the world’s population projected to face water scarcity by 2025, the need for sustainable water solutions has never been more critical. Our partnership with Metito is a decisive step towards addressing this pressing challenge. Together, we are committed to pioneering solutions.
Talal Ghandour, co-CEO of Metito, remarked: “Alpha Dhabi’s investment in Metito underscores the importance of our mission and the value we bring to the table.
Rami Ghandour, co-CEO of Metito, added: “This partnership is set to unlock vast synergies and to unleash boundless potential.
By 2025, an estimated 3.5 billion people could be living in water-scarce regions. The MENA region, home to 7% of the world’s population but just 1% of its freshwater resources, is the most water-stressed globally. A staggering 83% of its population, approximately 500 million people across 25 countries, are using over 80% of their renewable water supply. The World Bank projects that by 2050, water scarcity could cost the MENA region between 6% and 14% of its GDP. These alarming statistics underscore the urgent need for innovative solutions and impact investments in the water sector.
In line with the upcoming COP28 in the UAE, Alpha Dhabi has also established Alpha Dhabi Climate Capital, focusing on climate-conscious investments, with Metito as a cornerstone of this initiative.
With the UAE’s Year of Sustainability and the imminent COP28, both Alpha Dhabi and Metito are geared to make substantial contributions to discussions and initiatives centered on sustainable, technology-driven solutions
