Metito gets funding to expand in China, Indonesia

United Arab Emirates-based water and waste-water specialist Metito has secured long-term financing to support expansion plans in Indonesia, Egypt and China. The company, owned 56 percent by Abu Dhabi-based Gulf Capital and 6 percent by the World Bank's International Finance Corp, is also looking at entering markets in Africa and the Indian subcontinent, Managing Director Rami Ghandour told Reuters on Sunday.
"The IFC has arranged, along with Germany's DEG, a $70 million long-term debt instrument that will enable us to pay off some debt and fund new projects, mainly in Egypt, Indonesia and the largest component will go to China," he said.