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Wednesday, November 11 - 2009

Metito, IFC strike deal

  • United Arab Emirates: Sunday, September 23 - 2007 at 06:44

UAE based water treatment firm Metito has sold a 7.4% stake to the IFC, part of the World Bank Group, which has also provided the company with a long-term loan of $20m, reported Gulf News. The sale, alongside the loan, will enable Metito to ramp up its desalination and waste water treatment projects across the region. Metito earned revenue of $100m last year and is anticipating a 30% rise this year.

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