NMDC Group, an integrated energy, marine services and EPC major, said one of its key subsidiaries, NMDC Infra, has signed a strategic agreement to acquire 51% stake in Spanish group Lantania Aguas in a move aimed at creating a leading global player in the water sector.

A major subsidiary of Grupo Lantania, it is a specialist in desalination, water treatment and purification projects. Following the acquisition, the Spanish Group will retain the remaining 49% of the company.

Lantania Aguas will now operate under the new name, Lantania NMDC Water and will retain its current management team.

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.

Given the current challenges posed by water scarcity and the need for effective solutions and management of resources, both companies have joined forces in a move that strengthens their shared commitment to providing effective solutions for one of the most critical needs of communities worldwide, said NMDC in a statement.

The rebranded company, Lantania NMDC Water, will comprise over 300 professionals, and a current project backlog totaling more than AED2 billion ($544 million) spread across several countries, a solid foundation that supports its growth outlook.

As per the agreement, the company will operate under a joint management structure that will enable the company 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.

NMDC Group CEO Eng. Yasser Zaghloul 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.”

Lantania Group Chairman and CEO Federico Ávila 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," he added.-TradeArabia News Service