PARIS (Agefi-Dow Jones)–Veolia announced on Thursday that it has signed, in consortium with the investment companies ADQ, based in Abu Dhabi, and Vision Invest, based in Saudi Arabia, an acquisition contract from ADNOC Refining of two hazardous waste treatment plants in Abu Dhabi. The amount of the transaction was not disclosed.
With an annual capacity of nearly 70,000 tonnes, these two plants process most of the hazardous industrial waste from ADNOC, Abu Dhabi’s national oil company. The amount of the transaction was not disclosed.
“Through this agreement, Veolia, and its partners Vision Invest and ADQ, will process hazardous industrial waste from Abu Dhabi’s largest industrial complex, Al Ruways, which includes the largest oil refinery in the Middle East. The contract will start in 2023, subject to approval by the competent authorities, and will more than double Veolia’s hazardous waste activity in the Middle East,” Veolia said in a statement.
“The signing of this contract consolidates Veolia’s position as a strategic partner in the ecological transformation of the United Arab Emirates, where the group is also active in the water, waste and energy segments, and strengthens our leading role in the treatment of hazardous waste in the Middle East,” said Estelle Brachlianoff, CEO of Veolia, quoted in the press release.
Veolia’s stake in the operating company will amount to 50.1%. Vision Invest and ADQ will hold 24.95% each.
-Pierre-Jean Lepagnot, Agefi-Dow Jones +33 (0)1 41 27 48 19; [email protected] ed: VLV
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November 03, 2022 04:07 ET (08:07 GMT)