Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)
Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) announced the completion of ownership transfer procedures of a 51% stake in Jeddah Althaniya Operation and Maintenance Co. (JAOMC), which was recently acquired from Veolia Middle East.
In a statement to Tadawul, the company said that its articles of association were amended and approved by the Ministry of Commerce today, Dec. 15.
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In November, MARAFIQ announced its acquisition of Veolia Middle East’s 51% stake in JAOMC.
JAOMC is a joint venture between MARAFIQ and Veolia Middle East that was established to operate and maintain the independent sewage treatment plant in Jeddah with a capital of SAR 300,000.
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