SAGIA, Xylem ink $50m MoU to advance water security

Steven Leung, senior vice president and president, emerging markets of Xylem, signed the agreement on the sidelines of the Future Investment Initiative (FII), commonly known as the ‘Davos in the Desert,’ in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.
Updated 05 December 2019

SAGIA, Xylem ink $50m MoU to advance water security

Water technology firm Xylem has signed an MoU with the Saudi Arabian General Investment Authority (SAGIA), representing an investment of $50 million. The agreement aims to expand Xylem’s manufacturing footprint into the Kingdom, and to better serve its portfolio of customers in Saudi Arabia and across the region.

Under the MoU, Xylem will work with SAGIA to develop and localize advanced water and wastewater products and technologies to address water challenges in Saudi Arabia, as well as increase its footprint of service points and rental fleets across the Kingdom. A core objective of the MoU is to accelerate adoption of digital water solutions and optimize utility networks across the Kingdom.

The proposed multimillion-dollar investment will not only help build a vibrant local supply chain, but also see Xylem bringing additional commercial opportunities into the Kingdom, with the wider aim of improving water solutions locally. The agreement is in line with the goals of Saudi Vision 2030 to promote economic diversification through investments in localization that will also contribute to the export of “Made in Saudi” products across the world.

The MoU was signed on the sidelines of the Future Investment Initiative (FII), commonly known as the “Davos in the Desert,” by Ibrahim A. Al-Omar, governor of SAGIA, and Steven Leung, senior vice president and president, emerging markets of Xylem, in the presence of senior officials of both entities and Frank Ackland, managing director Xylem Middle East.

Al-Omar said: “As Saudi Arabia welcomes investors and decision-makers from across the globe to this annual global investment platform, the agreements exchanged here reflect the strength and diversity of the economy. Under Saudi Vision 2030, Saudi Arabia is undergoing an ambitious program of economic reform, and the world is taking notice. This month, Saudi Arabia climbed 30 places in the World Bank’s Doing Business 2020 report, becoming the most improved economy globally. The indicators are
clear: Saudi Arabia is not only open for business, it’s the economy of the future.”

Leung added: “As Xylem continues to lead the water sector’s digital transformation globally, this MoU presents an opportunity to leverage our market-leading portfolio and application expertise to advance water security in Saudi Arabia. Through our investment of $50 million, and with our strong presence in Saudi Arabia, backed by our dedicated office and team, we are committed to creating in-Kingdom value through our investments and partnerships. We are thankful to SAGIA for the opportunity to directly contribute our expertise to the development vision of the leadership, as the Kingdom embarks on its ambitious transformation program.”


Saudi delegation visits German trade fair Domotex

Updated 19 January 2020

Saudi delegation visits German trade fair Domotex

From Jan. 10 to 13, the latest edition of Domotex — an international trade fair for carpets and floor coverings — stood out as the industry’s biggest, most pivotal hub for trends and innovations in flooring trends. A total of 35,000 attendees — 70 percent of them from abroad — were on hand for the four-day event in Hannover, Germany to explore the latest trends, products, and solutions presented by more than 1,400 exhibitors from 60 countries.

The show’s keynote theme of “Atmysphere” highlighted the aspects of flooring products that contribute to a sense of well-being and promote naturalness and sustainability — topics thoroughly reflected by the products on display.

“Domotex is and remains our most international trade show. We are delighted that the event attracts attendees from around the globe, who come for 2.3 days on average — 60 percent from Europe, 25 percent from Asia and 10 percent from the Americas, with the remainder from Africa and Australia,” said Dr. Andreas Gruchow, the Deutsche Messe managing board member in charge of Domotex.

“We have been truly impressed with the positive reception and special spirit at this year’s Domotex. The attendance figures reflect an ongoing trend toward increased market concentration. The further rise in the percentage of high-caliber professionals is an important factor in business growth for 2020. 

"Around 90 percent of the show’s visitors have decision-making authority at their companies, with half of them at top management level,” said Sonia Wedell-Castellano, global director for Domotex. “I am also delighted with how enthusiastically our exhibitors embraced the keynote theme of ‘Atmysphere,’ as well as with the success of the revamped ‘Treffpunkt Handwerk’ (meeting point craft) skilled trades hub and the volume of exhibitors who have indicated they will be back in 2021,” she added.

The German-Saudi Arabian Liaison Office for Economic Affairs (GESALO), as the official representative of the Deutsche Messe AG in the region, organized in cooperation with the Domotex team a VIP delegation to the trade fair.

The delegation was welcomed by Maike Gessing, partner relations at Deutsche Messe AG, and Wedell-Castellano. The group had the chance to get firsthand information and exchange experience. 

In total, more than 200 visitors from Saudi Arabia, Bahrain, and Kuwait attended this year’s trade fair. 

The next Domotex will be staged from Jan. 15 to 18, 2021 at its traditional venue in Hannover.