NMDC Group has said its subsidiary NMDC Infra has signed a strategic acquisition agreement to establish itself in the water sector.
The agreement involves NMDC Infra acquiring 51% of Lantania Aguas, a subsidiary of Grupo Lantania. Lantania Aguas specialises in desalination, water treatment, and purification projects. Grupo Lantania will retain the remaining 49% of the company.
After the acquisition, Lantania Aguas will operate under the new name, Lantania NMDC Water. The current management team will remain in place, and the transaction is subject to customary regulatory approvals.
Eng. Yasser Zaghloul, Group CEO, NMDC Group said, “This acquisition marks NMDC Group’s first entry to the European market as we are set to export UAE-grown capabilities and scale to complement Lantania’s proven expertise. It also aligns with our strategy of expanding and diversifying NMDC Infra’s portfolio offering across many of the world’s most dynamic industries and markets. NMDC Group has long recognised the global challenges posed to water, and through Lantania NMDC Water, we affirm our commitment to harness innovation and advanced solutions to a more sustainable future.”
This collaboration comes at a time when water scarcity is a pressing global challenge. Both companies are committed to providing effective solutions and managing resources efficiently. By joining forces, they aim to address this critical need and contribute to the well-being of communities worldwide.
Lantania NMDC Water will combine NMDC’s commercial and technical capabilities with Lantania’s experience, credentials, and expertise in desalination, wastewater treatment, and water reuse, as well as in large-scale industrial projects, to create a leading global operator in water infrastructure, the statement said.
The rebranded company, Lantania NMDC Water, will comprise over 300 professionals, and a current project backlog totaling more than US $545mn spread across several countries, a solid foundation that supports its growth outlook.
Under the agreement, the company will operate under a joint management structure that will enable it to strengthen its technological, financial, and operational capacity, boosting its presence in strategic markets such as the Middle East, North Africa, Southeast Asia, South Asia, Europe and Latin America.
Federico Ávila, Chairman and CEO of the Lantania Group said, “This alliance marks a milestone in the history of our company and a turning point for Lantania Aguas. NMDC Group’s technical and commercial strength, combined with Lantania’s engineering capabilities and experience in this market, will enable us to jointly undertake major projects and establish a global benchmark in sustainable water solutions. We share the same vision, focused on promoting innovation, energy efficiency, and sustainability in each of our projects, contributing in a tangible way to global water security.”
NMDC Group remains steadfast in executing its strategy. This acquisition signifies the group’s inaugural business venture in Europe. Furthermore, it expands NMDC Infra’s diverse service offerings by incorporating water desalination and wastewater EPC services. This move aligns with the Group’s overarching objective of broadening its service portfolio across all its verticals.
NMDC Infra acquires 51% stake in Spain’s Lantania Aguas Middle East Construction News.
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