EBRD approves up to $32.1M equity investment in Hassan Allam Utilities’ RWD
· Egyptian market news · ARAB
The European Bank for Reconstruction and Development (EBRD) has approved an equity investment of up to $32.1 million in RWD Investments BV, a water infrastructure platform wholly owned by Egypt-based utilities company Hassan Allam Utilities (HAU), as per the bank's project disclosure.
The funding is intended to support RWD’s medium-term expansion in Egypt and cover development costs for future large-scale water projects structured as public-private partnerships (PPPs).
The project aims to promote private-sector participation in Egypt’s water sector, particularly in desalination, while supporting the development of future PPP projects.
The total project cost is estimated at $92.9 million, with the EBRD providing up to $32.1 million in equity financing.
Established in 2019, Netherlands-based RWD is an investment vehicle wholly owned by HAU. Through its local subsidiaries, Ridgewood for Water Desalination SAE (RWDWD), Sinai for Environmental Services SAE (Sinai), and Ridgewood Egypt for Infrastructure Projects LLC (REFI), RWD owns and operates 79 water desalination facilities across coastal cities in Egypt.