Saudi Amiantit wins 51% ownership in Russian wastewater projects
Saudi Arabian Amiantit, through its group company AmiWater, is the leading partner in a joint venture contract for two projects in Russia that have a total value of $30 million. AmiWater's Austrian subsidiary InfraMan has 51 percent of the joint venture contracts with the Russian partner taking 49 percent.
Both contracts have already commenced and are on a 25-year term basis. The biggest of the Russian projects has an overall budget of $20 million for water and waste water services, including an energy saving program, and is a joint venture with InfraMan and the municipality and the water utility of Balashicha, a city a short distance from Moscow.
Balashicha has a population of 150,000 that swells by an additional 100,000 during the summer when residents from the Russian capital come for a visit.
The second project, with a budget of $10 million for water, waste water and district heating services, including an energy saving program, is a joint venture between InfraMan and the municipality and the water utility of Dimitrovgrad, approximately 1,000 kilometers southeast of Moscow, that was formerly a 'closed city' due to sensitive industrial activities.
Dimitrovgrad has a population of 100,000 and the contract includes an extension of the pipe network to serve an additional 12,000 people.
Amiantit, through Amiwater is already operating or developing projects in Albania, Italy, Moldova, Russia, Kyrgyzstan and Thailand. In addition, there are projects that are under development in Azerbaijan, Indonesia, India, China, Romania, Ukraine, Peru and Guatemala.
The Amiantit Group is an industrial organization and is comprised of companies in Saudi Arabia and abroad that manufacture various kinds of pipes, joints, fittings, tanks, rubber and insulation products, and related accessories. Other activities include own and transfer technology, and water project consultancy and management all around the world. — (menareport.com)
© 2003 Mena Report (www.menareport.com)