The Arab Energy Fund, formerly known as APICORP, a leading multilateral impact financial institution focused on the MENA energy sector, has successfully led a consortium to acquire a 100 percent stake in, and provide further growth capital to, Metito Utilities, a global investor, developer and operator of sustainable water management solutions and climate-resilient water assets.
This landmark transaction, in partnership with Zamil Group Investment Company and the Ghandour family, aligns with TAEF’s strategic vision to advance energy security and sustainability by driving impactful investments that address critical infrastructure needs in water and wastewater management across the Middle East, Africa, and Asia.
Metito has been an industry leader in the water sector since 1958, and Metito Utilities has more than 25 years of experience in the investment, development, and long-term operation and maintenance of water and wastewater concessions. It has a proven track record of over 35 successful concessions and has a long-standing legacy of pioneering water and wastewater management, delivering first public-private partnership projects in the sector in countries such as Saudi Arabia, the UAE, Uzbekistan, Egypt, Rwanda, Serbia, Qatar and beyond.
Khalid Ali Al-Ruwaigh, CEO of TAEF, said: “The investment in Metito Utilities marks a strategic milestone in TAEF’s mission to advance sustainable infrastructure and energy value chains. Water and energy are deeply interconnected, and this collaboration, alongside our partners Zamil Group Investment Company and the Ghandour family, as well as Metito Utilities’ talented team, allows us to strengthen regional leadership in addressing water scarcity challenges while delivering long-term value creation. We aim to accelerate growth and innovation across new and existing markets.”
Abdullrahman K. Al-Zamil, president of Zamil Group Investment Company, said: “We have consistently sought opportunities that combine business excellence with meaningful impact. Water security is fundamental to our region’s future, and Metito’s expertise in water management aligns perfectly with our commitment to sustainable development.”
As a family business that has witnessed and participated in the region’s transformation, we see this partnership as another milestone in our journey of being partners in building nations, bringing proven water solutions to communities and industries that need them most.”
Rami Ghandour, CEO of Metito Utilities, said: “We are proud of our legacy, and the continuous evolution that has brought us to where we are today. While this transformation marks a new era for Metito, our commitment to a cleaner environment remains at the heart of everything we do. With this strengthened partnership, we aim to expand our positive impact by leveraging our experience in PPP projects to enhance water efficiency and deliver tailored, sustainable water management solutions across the pan-emerging markets. Together with our valued partners, we are excited to lead the way forward in shaping the future of water management.”
This acquisition marks a significant milestone for all shareholders, uniting their shared vision to address global water security challenges while developing long-term environmental, social, and economic value.
It aligns with TAEF’s broader strategy to drive sustainable infrastructure development, measurable impact and contribute to the region’s economic prosperity.
