Dubai: The Abu Dhabi utility company Taqa has further consolidated its hold in the UAE water company SWS Holding. It has bought all outstanding shares in SWS for Dh1.7 billion.
SWS (Sustainable Water Solutions) owns Abu Dhabi water Solutions Company, the entity exclusively holding the rights for wastewater collection in the emirate. It was established in 2005.
In its latest financials, Taqa referenced the contribution of SWS to its growth narrative. “By bringing the treated water business into TAQA, alongside our other water activities of production, transmission and distribution, we will be able to optimise the way we produce, use and reuse water,” said Jasim Husain Thabet, Taqa Group CEO. "As a company we can now offer an even broader range of utility solutions while we continue to grow here in the UAE and internationally."
The Abu Dhabi Water Solutions Co. does provide considerable heft. It has a network of around 13,000 kilometers of sewer pipelines and a water treatment capacity of approximately 1.3 million cubic metres per day from 43 plants. Its regulated asset value is Dh17.5 billion.
SWS Holding has ambitions to ;expand internationally as part of its long-term growth strategy'. Recently, along with Marubeni Corporation and Suez, the Abu Dhabi entity signed a joint development agreement with Uzbekistan's Ministry of Investment, Industry and Trade and Uzsuvtaminot JSC to develop a wastewater treatment plant in Tashkent, capable of producing 1.5 million cubic metres of treated water per day.
"Being part of Taqa strengthens our position to ensure responsible water use and reuse, support the circular economy and promote smart growth here in the UAE and abroad," said Ahmed Al Shamsi, SWS Holding’s CEO.
