Qatari Diar, Barwa and GDF SUEZ Group to establish multi-utility company in Qatar

Mr. Ghanem bin Saad Al Saad, CEO of Qatari Diar and Chairman & Managing Director of Barwa, and Mr. Youssef Ahmad Al-Hammadi, Chairman Designate of the new Joint Venture multi-utility company, signed the shareholders (JV) agreement to establish a shareholding limited liability company with 51% Qatari stake and 49% French stake.

The new JV will focus on multi-utility facilities and services in the fields of water treatment and distribution, wastewater collection and treatment, power transmission and distribution, and a wide range of energy services such as district cooling, gas supply, solid waste collection and treatment, desalination and Integrated Communication Technologies. It will have the values of an integrated utilities one-stop shop approach, offering the best technology in a timely and cost effective manner, focusing on long term sustainability and environmental awareness.

The multi-utility company will identify, assess and bid for multi-utility projects and opportunities in the Region while benefiting from the combined strengths of both partners. In particular, the JV company will be able to provide a unique "palette" of services for both the environmental sector (water reuse) and energy sectors that will bring unique added value to its customers. The JV company will become a reference company in the Middle East for providing high quality, reliable, multi-utility services to its customers, with a priority in Qatar.

Services offered by the new JV will include master planning of projects' facilities and services, facility design, review and possible improvements to existing designs, financing and building facilities, operation and maintenance of facilities and the provision of other services including customer services and management of the capital program.

Potential customers of the Multi-Utility Company would be Qatari Diar and Barwa projects inside and outside the State of Qatar, in addition to other projects taking place within the region.

Commenting at the signing ceremony, Mr. Ghanem bin Saad Al Saad said: "Qatar and the Region have undergone major growth both economically and in urbanization due to numerous major development projects. These projects and their inhabitants, being districts or even complete cities, will benefit from multi-utility facilities and services offered by our JV company".

"Qatari Diar and Barwa's strategic objective is to strengthen the economic and social growth of our communities through developing and implementing world class projects by providing high quality public utility services," added Mr. Al Saad.

Mr. Youssef Ahmad Al-Hammadi commented: "Qatari Diar, Barwa and GDF SUEZ Group are proud of this new joint venture that will strengthen the support of the companies' projects and presence in Qatar and the region. SUEZ will propose new package offers for the cities of the future to be set up in Qatar and the entire Region. Qatari Diar and Barwa have respected track records in the development of these type of projects and are well aware of local needs, whereas SUEZ will provide its know-how in world class multi-utility facilities and services. This joint venture will be fully sustainable development oriented and aims to contribute to the development of the region's evolutionary cities of the future."