India-based water technology company WABAG has inked a memorandum of Understanding (MoU) with Al Jomaih Energy and Water (AEW), a developer of energy and water projects in the Middle East.
The agreement, signed during the India-Saudi Investment Forum alongside the G20 Summit, is poised to explore collaborative opportunities in water project development across Saudi Arabia and the broader Middle East region.
In this strategic partnership, WABAG and AEW will join forces on various fronts, encompassing engineering, procurement, and construction (EPC), project development, and feasibility assessments for potential water projects.
This collaboration capitalises on the collective expertise of both entities to confront the pressing water challenges confronting the region.
AEW will play a pivotal role in furnishing essential support concerning local market intelligence, business development, and engagement with stakeholders such as potential customers, off-takers, regulators, ministries, lenders, and suppliers.
Meanwhile, WABAG will bring to the table the technical and commercial proficiency necessary for conducting feasibility assessments and spearheading project development.
The MoU symbolises a strategic alliance aimed at meeting the escalating demand for sustainable water solutions in the Middle East. Through this partnership, AEW and WABAG seek to synergise their resources and expertise to foster innovation and contribute to the advancement of water infrastructure in the region.
WABAG said that the company has a historical presence in the Middle East with a track record in developing several large-scale water and wastewater infrastructure projects. The MoU is said to underscore WABAG’s commitment to delivering sustainable water solutions not only in Saudi Arabia but across the broader Middle East region.
WABAG deputy managing director and group CEO Pankaj Malhan said: “The MOU will help both the organizations in the development collaboration and exploring the feasibility of development and investment opportunities in Water Projects in the kingdom of Saudi Arabia and other geographies in Middle East.
“We feel that we have aligned ourselves with the strategy of KSA Vision 2030 and also help the country to achieve its sustainable goals.”
