Abu dhabi: NMDC Group announced that its wholly owned subsidiary, NMDC Infra, has signed a strategic acquisition agreement to create a leading global player in the water sector. Under the agreement, NMDC Infra will acquire 51 percent of Lantania Aguas, a subsidiary of Grupo Lantania specializing in desalination, water treatment, and purification projects, while the Spanish group will retain the remaining 49 percent of the company.

According to Emirates News Agency, Lantania Aguas will operate under the new name, Lantania NMDC Water, upon completion of the acquisition, maintaining its current management team. The transaction's completion is contingent upon customary regulatory approvals. This partnership aims to address the challenges of water scarcity and resource management, reinforcing both companies' commitment to providing solutions for communities worldwide.

Lantania NMDC Water will merge NMDC's commercial and technical strengths with Lantania's expertise in desalination, wastewater treatment, and water reuse to become a leading global operator in water infrastructure. The rebranded entity will have over 300 professionals and a project backlog totaling more than AED2 billion, spanning several countries, providing a solid foundation for growth.

The agreement establishes a joint management structure to enhance the company's technological, financial, and operational capacities, expanding its presence in strategic markets such as the Middle East, North Africa, Southeast Asia, South Asia, Europe, and Latin America.

Eng. Yasser Zaghloul, Group CEO of NMDC Group, stated that the acquisition marks NMDC Group's entry into the European market, aiming to export UAE-grown capabilities to complement Lantania's expertise. This aligns with NMDC Infra's strategy of expanding and diversifying its portfolio across dynamic industries and markets worldwide.

Federico vila, Chairman and CEO of the Lantania Group, expressed that the alliance represents a milestone for Lantania Aguas. He emphasized that NMDC Group's technical and commercial strengths, alongside Lantania's engineering capabilities, will enable the undertaking of major projects and the establishment of a global benchmark in sustainable water solutions, promoting innovation, energy efficiency, and sustainability in their projects, thereby contributing to global water security.