AlBawani Water & Power Company has acquired A.Hak Saudi Arabia to enhance its growth in the water, environment, and energy sectors.

Target Information

AlBawani Water & Power Company (AWP), a prominent utility provider in Saudi Arabia, has successfully signed an acquisition agreement to obtain the entire shares of A.Hak Saudi Arabia, the local unit of the Dutch firm A.Hak Pijpleidingen. This strategic acquisition is expected to enhance Al Bawani's growth initiatives within the critical sectors of water, environment, oil, and gas.

The agreement was formalized by Al Bawani Group's CEO, Engineer Fakher Al Shawaf, and Dutch A.Hak's CEO, Henk Herremans, in a ceremonious occasion held at the Dutch Embassy in Riyadh, attended by key figures including the Ambassador of the Netherlands to Saudi Arabia, Janet Alberda, along with various representatives from the Saudi business and government sectors.

Industry Overview in Saudi Arabia

Saudi Arabia's utility sector has been undergoing significant transformations, driven by the country's ambitious National Vision 2030 strategy which aims to diversify the economy and reduce depend