Veolia Environnement and Mubadala launch a joint venture company in the Middle East, North Africa (Mena) region

Mubadala Development Company (Mubadala) and Veolia Water announce their intention to create a joint-venture company that will focus on the areas of water production and waste water collection and treatment in the Middle East and North Africa (MENA) region. This activity could later lead to further joint ventures for other business sectors of the Veolia Environnement Group.

Today’s announcement follows a decision by Abu Dhabi investment and business development company, Mubadala, and Veolia Water, the world leader in water and wastewater services, subsidiary of Veolia Environnement, to work together on municipal concessions and public private partnerships in the MENA region. The joint venture company will be owned 51% by Veolia Water and 49% by Mubadala.   This partnership brings together the expertise of a world leader in environmental services with the experience of the leading investment and development company in the region. It marks the first step for a long term collaboration in future projects for the two companies.   Speaking on behalf of Mubadala, Chief Operating Officer, Waleed Al Mokarrab Al Muhairi, said: “As the region’s economy continues to expand and diversify, high quality infrastructure will underpin this development. As part of this process, Mubadala is creating a diverse and sustainable range of businesses in the utilities sector by bringing new technologies, efficiencies and best practices to the region. Establishing partnerships with best-in-class international companies such as Veolia, which has over a century of experience in this field, will allow us to do just this.”   For Veolia Water, Antoine Frérot, Chief Executive Officer, outlined the significance of the partnership, “this joint-venture is strategically important for Veolia Water as the MENA region is undergoing full economic, industrial and tourist growth which requires world-leading expertise in quality water services, solutions and technologies. Working with a leading investment fund will provide further capacity to expand and offer vital infrastructure solutions to local needs.”