Septech expands in KSA
Septech plans to expand in the Middle East with the opening of new offices and factories in Saudi Arabia. The water giant has entered into a strategic joint venture with a Saudi Arabia based partner Mawrid holdings to form Septech Saudi Arabia. The company’s head office will be based in Riyadh, while factories will be set up in the eastern and western provinces. Septech will retain a majority stake in the partnership.
Septech plans to expand in the Middle East with the opening of new offices and factories in Saudi Arabia. The water giant has entered into a strategic joint venture with a Saudi Arabia based partner Mawrid holdings to form Septech Saudi Arabia. The company’s head office will be based in Riyadh, while factories will be set up in the eastern and western provinces. Septech will retain a majority stake in the partnership.
“We are very excited about Septech’s entry into Saudi Arabia. We look forward to introducing our latest technologies in water / water re-use, desalination and utilities management expertise to address the country’s growing water challenges. Mawrid Holding’s strategic strength lies in the fact that they have a deep understanding of the marketplace and the related challenges and opportunities that it presents,” said Septech CEO David Heffernan.
Water scarcity is a critical issue that the region is dealing with. According to a report released by Birzeit University in Palestine, the Mena region has five percent of the world’s population and less than one percent of the world’s available water.
Water re-use technology has surfaced as an important solution to this serious threat. According to water research company Global Water Intelligence Christopher Gasson, the water re-use market in Saudi Arabia will be worth as much as US $3.4 billion between 2009 and 2016, making it the largest water re-use market in the world after the United States and China. Furthermore, Heffernan has forecasted that Septech Saudi Arabia’s annual turnover will exceed SR 300 million ($80 million), and anticipates a growth rate between 20% and 30% within two and three years, respectively.
