The new company, Metito Berlinwasser, plans to spend $1bn over the next three years. The joint venture is 60 per cent owned by Metito Utilities and 40 per cent by Berlinwasser International, with headquarters in Dubai.
Metito Berlinwasser will focus on long-term government projects including operating and maintenance contracts, and investments in water and wastewater infrastructure. Berlinwasser and Metito will continue to run their existing businesses in tandem with the new company.
The two firms have also formed a strategic partnership to develop and invest in water and wastewater schemes in China.