Saudi’s Abdul Latif Jameel unit acquires South American water firm

Almar Water Solutions, a wholly-owned subsidiary of Abdul Latif Jameel Energy, acquired Chile-based water treatment firm, Osmoflo, as part of its expansion plans.

With this acquisition, the Saudi firm aims to address Latin America's ongoing water challenges, providing diverse, flexible and high technology wastewater solutions, a statement from the company said.

The investment incorporates several operation and maintenance contracts for the industrial water sector, along with a fleet of multi-capability mobile water treatment units which provide short-term or emergency solutions to industrial clients.

Following this acquisition, Osmoflo will be integrated under the Almar Water Solutions umbrella but will continue to operate its activities as normal and will retain its brand name, pro tem.

"Almar’s Chilean acquisition move strengthens our position within the Latin American market, responding to Abdul Latif Jameel Energy’s commitment to scaling our activities and geographical reach in emerging markets with pressing energy needs," Fady Jameel, Deputy President and Vice Chairman of Abdul Latif Jameel, said.