The joint venture between Hassan Allam Holding and Almar Water Solutions has acquired Ridgewood Egypt. Ridgewood Egypt is a water desalination company that owns and operates a total installed desalination capacity of about 80,000 cubic metres per day. Ridgewood Egypt has 60% market share in Egypt’s water desalination sector. The acquisition will see about 60 water desalination plants added to the joint venture’s portfolio. The acquisition amount and majority stake acquired was no disclosed.
Hassan Allam Holding is a construction and engineering group (based in Cairo, Egypt) that has over 80-years of experience in Egypt and the wider Middle East and North Africa region. Hassan Allam Holding specializes in delivering engineering, procurement, and construction services for large complex projects and has a workforce of over 34,000 skilled workers. The company has a track record of good quality and on time delivery. Almar Water Solutions is a provider of specialist expertise and solutions in water infrastructure development, including financing, design and operation. The team has over 20-years experience in the sector. The joint venture of these companies was formed in 2019.