Metito to invest SR 500 million

Metito, a leading provider of total intelligent water management solutions in emerging markets, yesterday announced it is re-launching its operations in the Kingdom with a plan to invest SR 500 million in the water and waste water industry over the next 3 years. The announcement was made at a press conference hosted by Fady Juez, Metito managing director, in the presence of Salah Ackad, Metito general manager in the Kingdom. Abdullah Al Gholaikah, former governor of the Saline Water Conversion Corporation (SWCC) also attended the conference as a special guest of Metito. During the conference, the water situation in the region and particularly in the Kingdom was discussed, and the most viable solutions to recycle and reuse water explored. Metito also shared a case study of one of its most prominent projects in the region utilizing technologies similar to those discussed. The re-launch of Metito in Saudi Arabia sees the resumption of a strong and valuable relationship that was first established in the late 1960s, when Metito was primarily engaged in the supply of water desalination systems. Now, at the forefront of the water, desalination and wastewater industry and with a workforce in excess of 2,500 employees and a global project portfolio worth $1 billion, Metito returns as a provider for total water treatment solutions. “It is both honoring and exciting for us to resume our operations in the Kingdom, a market we feel forever indebted to,” said Fady Juez. “More than 40 years ago, Metito’s journey of success started here and since then we continued to develop as professionals, grow as a business and to refine our expertise to successfully expand in the Middle East, Africa, South East Asia and China. With that in mind, we were adamant to come back today to Saudi Arabia and harness our resources to build an operational backbone that can support Metito in playing an effective role in the development of the water, desalination and wastewater industry.” During the period Metito was not operating in the Kingdom, it continued evaluating the market and observing the local trends to better understand the services and solutions that may benefit the industry most. Through such assessments, Metito was able to structure its business model in The Kingdom to enable it to provide the needed services, supported by the company’s well-established global know-how that is honed through more than 50 years of refined industry experience. Metito Saudi’s project portfolio now holds projects that are worth in excess of SR 60 million, in just one year of its recent comeback. The company is planning to further grow these numbers and to support its operations through investing half a billion Saudi riyals in the next three years. With this investment Metito cements its commitment to the Saudi market and pledge to continue honoring the longstanding relation that was acquired over years of professional and world-class quality operations in the Kingdom.from arab news.