Back to the complete issue
Monday, 7 February 2022

Metito proposes plan to build Egypt’s first floating desalination plant

Water treatment company Metito wants to build floating desalination plants in Egypt, Al Borsa quoted Managing Director of Metito Africa Karim Madwar as saying. The Emirati company is currently in talks with the Housing Ministry and has submitted its proposal, he added.

There are no project specs as of yet: The plant’s capacity and its cost will be decided if Metito’s proposal is approved, Madwar said. The company plans to approach multilateral lenders including the Japan International Cooperation Agency and the European Bank for Reconstruction and Development for funding, he added.

Metito has expertise in this area: Metito is designing and building three floating desalination plants for Saudi Arabia for around USD 202.6 mn.

And it has experience in Egypt: Metito has worked with Orascom Construction and Hassan Allam Construction on several local wastewater treatment and desalination plants, including the USD 130 mn East Port Said seawater desalination plant it delivered with OC last year. All three companies were last year awarded a contract to construct the El Hamam agricultural wastewater plant, which they claim is the largest of its kind in the world.

IN CONTEXT- This is part of the Sisi administration’s USD 50 bn water strategy: Egypt’s sovereign wealth fund issued tenders for private companies to build 17 solar-powered desalination plants in October, as part of a USD 2.5 bn plan to quadruple our desalination capacity in the next five years as the government focuses on water security.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.