Veolia Water Technologies and Saudi Arabia’s Alfanar Project have agreed to a significant partnership in the water and wastewater sectors, according to a statement made public during the French-Saudi Investment Forum.
During the forum, the two firms also signed a Memorandum Of Understanding (MOU), which is valued at around $453 million (SAR 1.7 billion), reflecting the scope and significance of the planned projects.
Dignitaries such as H E Eng Khalid Al Falih, Saudi Arabia’s Minister of Investment, H E Ahmed Al Khateeb, Saudi Arabia’s Minister of Tourism, H E Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, and H E Olivier BECHT, France’s Minister for Foreign Trade, Attractiveness, and French Nationals Abroad, were present for the signing ceremony along with the representatives from both Alfanar Projects and Veolia Water Technologies.
Noaman Al Adhami, UK Country Head of Alfanar Projects, and Thierry Froment, CEO of Veolia Middle East, participated in the signing on behalf of their respective companies.
The collaboration is expected to bring significant advancements in the water and wastewater sector, supporting Saudi Arabia’s ongoing development efforts.
This strategic alliance aims to address the growing demand for efficient water management solutions and contribute to the nation’s sustainable development goals.
This partnership underscores the commitment of both companies to enhance water infrastructure, promoting efficient resource utilisation, and advancing the Kingdom’s vision for a more sustainable future.