Middle East

United Arab Emirates Metito, Scatec discussing $ 1.5 billion Egyptian desalination plant

Metito Holdings Ltd., Scatec and Orascom Construction in the United Arab Emirates are working to address the looming water scarcity of the most populous Arab countries, a $ 1.5 billion renewable energy-powered desalination plant. Is under negotiation with Egypt.

According to Karim Madwer, managing director of Africa at Metite, the three consortiums are in talks with the Egyptian sovereign wealth fund to partner on projects that follow a construction, ownership, operation and relocation system.

Egypt relies on the Nile for most of its freshwater and is a $ 2.5 billion initiative involving sovereign wealth funds and private investors to build more than 12 renewable energy facilities by 2025. Announced plans for a new sovereign wealth fund, including Swath.

Egypt is facing a yawning supply shortage that Ethiopia is afraid of exacerbating by the huge hydroelectric dams that fill its main tributaries.

According to Madwer, the consortium’s proposals include a 400-megawatt solar power plant and a desalination plant capable of processing 1 to 2 million cubic meters per day. Egypt also has the potential for floating mobile desalination plants, such as those offered by three Metitos in Saudi Arabia for about $ 300 million, he said in an interview.

The need for water

Egypt, which hosts the next Global Climate Summit in November, is competing to renew the use of freshwater. To meet the needs of more than 100 million people, we need 114 billion cubic meters per year, but only about half of that comes from natural resources. Shortfalls are addressed by recycling agricultural wastewater and groundwater and importing excess food, instead of irrigating more crops.

The proposed project will benefit from Egypt’s fast-growing green energy sector. Home to one of the world’s largest solar parks, the country aims to increase the proportion of electricity generated from sustainable sources to 20% this year.

In early February, the Egyptian Cabinet proposed that Abdul Latif Jameel Energy & Environmental Services and Hassan Alam Holding build a desalination plant with the goal of producing approximately 2.9 million cubic meters of water per day by 2030. Said that he submitted.

The family-owned Metito, according to its website, began operations in 1958 as the first specialized water treatment company in the Middle East. Bank of America Corp. Veteran Talal Ghandour became Executive Director and Chief Investment Officer of the company founded by his uncle last year.

Metito says it is also working on this type of world’s largest wastewater treatment plant in Egypt in a joint venture with Hassan Allam, Arab Contractors and Orascom Construction. The treated water irrigates 500,000 acres west of the Nile Delta region.



https://gulfbusiness.com/uaes-metito-scatec-in-talks-on-1-5bn-egypt-desalination-plant/ United Arab Emirates Metito, Scatec discussing $ 1.5 billion Egyptian desalination plant

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