Tuesday 29 September 2020

Saudi Abdul Latif Jameel unit buys Chilean water company

RIYADH, November 14, 2019

Almar Water Solutions, a leading global developer of water infrastructure projects and part of Abdul Latif Jameel Energy, today expanded its proposition into the wider water services sector with the acquisition of Osmoflo SpA, a progressive water treatment company headquartered in Chile.

With this acquisition, Almar Water Solutions aims to address Latin America's ongoing water challenges, providing diverse, flexible and high technology water and wastewater solutions, said a statement from the company.

The investment incorporates several operation and maintenance contracts for the industrial water sector, along with a fleet of multi-capability mobile water treatment units which provide short-term or emergency solutions to industrial clients.

In response to the region’s water challenges, this portfolio will rapidly expand with the development of water infrastructure projects and the provision of operation and maintenance services for a broad range of industrial sector clients seeking to outsource this requirement, it stated.

Established in 2011 at Chile, Osmoflo SpA has developed an integrated portfolio of services including the operation among others of the Antucoya reverse osmosis desalination plant, the Centinela desalination plant, and the Aritia and Novaustral wastewater treatment plants.

Following this acquisition, the South American group will be integrated under the Almar Water Solutions umbrella but will continue to operate its activities as normal and will retain its brand name, pro tem.

The experience of the Almar Water Solutions team, combined with the financial strength of Abdul Latif Jameel, will undoubtedly boost the growth and efficiency of Osmoflo in Chile and other Latin American countries, said a top official.

"This milestone will contribute to the evolution of Almar Water Solutions as a company and to the diversification of its portfolio of services, introducing us into industrial outsourcing, where we have many highly experienced professionals," remarked its CEO Carlos Cosín.

"Likewise, Osmoflo SpA's projects will strengthen our portfolio of references and will serve as our letter of introduction in the Latin American and international markets," he added.

Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, said: "Almar’s Chilean acquisition move strengthens our position within the Latin American market, responding to Abdul Latif Jameel Energy’s commitment to scaling our activities and geographical reach in emerging markets with pressing energy needs."

"Osmoflo SpA brings operational in-market water treatment expertise, with a track record of successful projects in the region. We are confident this move will pave the way toward making Almar Water Solutions an industry leader in innovative water solutions in Chile and Latin America more broadly," he added.-TradeArabia News Service


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