Almar Water Solutions

What Almar Water Solutions does

Almar Water Solutions is a Madrid-headquartered water infrastructure developer and operator serving municipal utilities and large industrial customers in water-stressed regions. The company structures, finances, builds, and operates water, wastewater, desalination, and environmental projects under long-term PPP concession models (BOOT, BOT, BOO) with typical contract terms of 16-29 years. Its project portfolio spans approximately 1 million m³/day of developed water capacity, serves an estimated 5.97 million people across four continents, and includes the US$1.5 billion Centinela Water System (Chile, Antofagasta Minerals), the US$610 million Shuqaiq 3 desalination plant (Saudi Arabia), the US$400 million Zuluf water treatment plant (Saudi Aramco), the US$310 million Muharraq wastewater treatment plant (Bahrain), and the Traya Tirta Cisadane drinking water plant in Indonesia. Almar reports total business volume of $126.386 million (per its KPI dashboard) and is a subsidiary of the Abdul Latif Jameel diversified group.

The company is technology-agnostic, selecting and integrating treatment technologies (reverse osmosis, biological treatment, clariflocculation, physical-chemical processes) from third-party OEMs and EPCs rather than building proprietary treatment IP. Its differentiated capabilities sit in project finance structuring (designing SPVs, negotiating with global lenders, and aligning stakeholders across clients and regulators), asset lifecycle services enhanced by digital tools for performance optimization, and flexible industrial service models (mobile rental plants through full-site water management). Major customers include Saudi Aramco, Saudi Water Partnership Company, Antofagasta Minerals, the Bahrain Ministry of Works, and Australian mining majors Rio Tinto, Glencore, Newmont, and Westside.

Almar earns revenue through development fees, financing arrangement fees, equity returns on SPV participation (e.g., 35% in Muharraq), multi-year O&M contracts, industrial water services, and emerging environmental solutions (green hydrogen, waste-to-energy via the Ecoprial biogas plant in Chile, and mineral recovery from brine). The company operates through regional subsidiaries including Ridgewood Egypt, Obor Infrastructure (Indonesia), Almar Water Services Latam, Aguas San Pedro (Chile), and Almar Water Solutions Australia (acquired 2025, formerly Aqualyng). All go-to-market is direct enterprise sales via long-form PPP tenders and consortium structures with strategic partners such as Marubeni, Acciona, Rawafid, Transelec, Aguas Esperanza, and Moya; there is no self-serve or transactional channel.

Name

Almar Water Solutions

Legal name

Almar Water Servicios España SL

Website

https://almarwater.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Almar Water Solutions is a Madrid-headquartered water infrastructure developer and operator serving municipal utilities and large industrial clients globally. The company structures, finances, builds, and operates large-scale water, wastewater, and environmental projects under long-term PPP concessions across four continents.

Ownership category

akta.pro rank

Product category

Water Infrastructure and Environmental Services

NAICS

Water Supply and Irrigation Systems (221310), Water, Sewage and Other Systems (2213), Sewage Treatment Facilities (22132)

SIC

Water Supply (4941), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Water Sourcing & Abstraction (Surface Water, Groundwater, Intake Works) (EUANAAAA)

akta.pro secondary industries

Design & Engineering for Renewal/Expansion (Pipelines, Pump Stations, Treatment Plants) (EUANALAD), Water Treatment Plant Construction (Drinking Water) (IMAFAGAA), Water Reuse & Reclamation Infrastructure Construction (Recycled Water Systems) (IMAFAGAH), Water, Wastewater & Hydraulics Engineering Consulting (BPAHAIAD)

Keywords

• Water infrastructure development
• Desalination and wastewater treatment
• Project finance structuring
• Asset management operations
• Environmental and circular economy solutions

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Infrastructure Development & Finance: Almar structures complex water projects through project finance, designing SPV structures, aligning stakeholders, and leading negotiations with global lenders. Revenue is earned through development fees, financing arrangement fees, and equity returns on invested capital. Projects are typically structured under BOOT/BOT/BOO concession models with terms of 16–29 years.
2. Asset Management & Operations (O&M): Almar operates and maintains water infrastructure — desalination, wastewater, reuse, and distribution systems — with a focus on safety, reliability, and long-term performance. Revenue is earned through multi-year operation and maintenance contracts with clients.
3. Industrial Services & Water Treatment: Delivers integrated water solutions to industrial clients (mining, energy, heavy industry) through flexible models including mobile rental plants, plant design and construction, and full-site water management. Revenue includes both service fees and chemical/treatment consumables supply.
4. Environmental Solutions (Green Hydrogen, Waste-to-Energy, Mineral Recovery): Emerging revenue streams in green hydrogen production, waste-to-energy conversion, and mineral recovery from brine. These align with decarbonization trends and circular economy mandates, generating both environmental and economic value.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Almar Water Solutions develops, finances, and operates complex water and environmental infrastructure for municipal and industrial clients globally. Its portfolio includes desalination, wastewater treatment, water reuse, water transport systems, waste-to-energy, green hydrogen, and mineral recovery projects, typically structured under long-term BOOT/BOT/PPP concessions. The company combines technical design, project finance structuring, and long-term asset management under an integrated single-partnership model.

Product overview

Almar Water Solutions offers an integrated portfolio of water and environmental solutions structured across two complementary areas: Advanced Water Solutions and Environmental Solutions. Advanced Water Solutions encompasses Water Infrastructure, Asset Lifecycle Services, Performance Enablers, and Strategic Financial Solutions for developing, financing, and operating water projects. Environmental Solutions includes Waste to Energy, Green Hydrogen, and Mineral Recovery for circular economy applications. The company operates globally through subsidiaries including Almar Water Solutions Australia (formerly Aqualyng Australia), Obor Infrastructure, Ridgewood Egypt, Almar Water Services Latam, and Aguas San Pedro. Major projects include Centinela Water System (seawater transport for mining), Shuqaiq 3 desalination plant (450,000 m³/day), Muharraq wastewater treatment plant (100,000 m³/day), Traya Tirta Cisadane drinking water plant (285,000 m³/day), Zuluf water treatment (185,000 m³/day), and Ecoprial circular waste management plant in Chile.

Differentiator

Problem solved

Functional benefit

Brands

• Watersolver: Brand messaging/tagline 'Water.Solved.' used as part of the company's integrated water solutions identity.

Products and services

• Centinela Water System Seawater transport infrastructure delivering 167,011 m³/day via two 144 km pipelines from Michilla Port to Centinela Mining District in Chile's Atacama Desert, serving Antofagasta Minerals' mining operations.
• Shuqaiq 3 Desalination Plant One of the largest reverse osmosis desalination plants in Saudi Arabia, producing 450,000 m³/day of potable water under a BOT model for the Saudi Water Partnership Company.
• Muharraq Wastewater Treatment Plant Wastewater treatment and reuse plant in Bahrain providing 100,000 m³/day capacity through biological and tertiary treatment for the Ministry of Works, Kingdom of Bahrain.
• Zuluf Water Treatment Plant Industrial water treatment plant with 185,000 m³/day capacity providing treated water for Saudi Aramco's oil and gas operations in Saudi Arabia.
• Traya Tirta Cisadane (TTC) Drinking Water Treatment Plant Physical-chemical drinking water treatment plant producing 285,000 m³/day serving approximately 1.9 million people in South Tangerang, Indonesia.
• Ecoprial Circular Waste Management Plant Biogas plant in Osorno, Chile, converting 40,000 tons/year of organic waste into 1.75 million Nm³/year of biogas for clean energy production.
• Almar Water Solutions Australia Integrated water treatment solutions across Australia serving mining, industrial, municipal, and healthcare sectors, operating at over 40 active sites across Brisbane, Perth, and Townsville.
• Almar Water Services Latam Operational water services and infrastructure development subsidiary for Latin America, providing BOT/BOO development, O&M, water treatment chemicals, rental plants, and integrated EP+O&M services.
• Obor Infrastructure Drinking water infrastructure development and operation in Greater Jakarta, Indonesia, covering municipal water production, distribution, asset management, and treatment plant operation and maintenance.
• Ridgewood Egypt Desalination and water infrastructure platform operating across Egypt as a wholly-owned Almar subsidiary.
• Aguas San Pedro Drinking water and sanitation services for communities in Chile, supporting wastewater collection, treatment, and municipal water infrastructure operation.

Quantifiable outcome

• Nearly 1 million m³/day of water capacity developed through project finance
• +10 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and secondary.

• MarubenicoreStrategic or Co-development PartnerMarubeni is part of the consortium (with Rawafid and Acciona) leading the Shuqaiq 3 Independent Water Project — one of the largest reverse osmosis desalination plants in Saudi Arabia, with 450,000 m³/day capacity and a value of USD 610 million. Marubeni's role is as a joint venture partner in the SPV structured under a BOT model.
• AccionacoreStrategic or Co-development PartnerAcciona is a consortium partner in the Shuqaiq 3 desalination project (BOT), contributing engineering, procurement, and construction expertise alongside Marubeni, Rawafid, and Almar.
• RawafidcoreStrategic or Co-development PartnerRawafid is a Saudi-based consortium partner in the Shuqaiq 3 project, providing local market expertise and operational capability as part of the BOT arrangement.
• TranseleccoreStrategic or Co-development PartnerTranselec is a key partner in the Centinela Water System project, collaborating with Almar on the construction and development of the water transport infrastructure (SIAM I and SIAM II pipelines) for Antofagasta Minerals in Chile's Atacama Desert. The partnership combines infrastructure development expertise with long-distance water transport capabilities.
• Aguas EsperanzacoreStrategic or Co-development PartnerAguas Esperanza is the SPV entity (partially owned by Almar) operating the Centinela Water System. Francisco Rodríguez serves as CEO of the SPV. The company is responsible for the ongoing operation of the water transport system under the 16-year concession.
• MoyasecondaryStrategic or Co-development PartnerMoya is the consortium partner alongside Almar for the Traya Tirta Cisadane (TTC) drinking water treatment plant in Indonesia, serving approximately 1.9 million people in South Tangerang under a 20-year PPP concession with 285,000 m³/day capacity.
• Ridgewood EgyptcoreChannel Partner/ Reseller/ DistributorRidgewood Egypt is a wholly-owned subsidiary of Almar Water Solutions, serving as a leading desalination and water infrastructure platform across Egypt. It operates as a local delivery vehicle for Almar's projects and services in the Egyptian market.
• Obor InfrastructurecoreChannel Partner/ Reseller/ DistributorObor Infrastructure Pte Ltd is a subsidiary developing and operating drinking water infrastructure in Greater Jakarta, Indonesia, including the Traya Tirta Cisadane and Tirta Kencana Cahaya Mandiri projects under Almar's ownership.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Acciona Agua: Acciona Agua is the water division of Spanish infrastructure group Acciona and a consortium partner with Almar on Shuqaiq 3. It operates and develops large-scale desalination, water treatment, and reuse concessions under PPP/BOT models in MENA, LatAm, and globally, making it a direct peer in both technology selection and concession execution.
• Sacyr Agua: Sacyr Agua develops and operates large-scale water infrastructure concessions globally under PPP/BOT frameworks, including desalination and wastewater treatment plants. Its integrated developer-O&M model and geographic footprint in MENA and Latin America directly overlap with Almar's positioning.
• Tedagua (SUEZ Spain): Tedagua is SUEZ's Spanish EPC and concession platform for water and desalination, directly comparable to Almar in scope (desalination, wastewater, reuse) and customer base (municipal and industrial). It competes for similar mega-concessions in MENA and Latin America.
• Aqualia (FCC Group): Aqualia is one of Spain's largest water service operators and concession developers, serving municipal and industrial clients globally. It is a comparable integrated developer-O&M water utility peer with overlapping PPP and end-to-end asset management capabilities.
• GS Inima Environment: GS Inima Environment develops and operates water and environmental infrastructure concessions worldwide, including large-scale desalination and wastewater treatment. Its PPP/BOT project profile in MENA, Americas, and Europe directly mirrors Almar's concession model.
• Befesa Agua: Befesa Agua (now part of Befesa/Abengoa heritage) develops and operates large water infrastructure projects including desalination and industrial water treatment under EPC and concession frameworks, with comparable scale and customer overlap with Almar's industrial and mining clients.

Broad incumbents

• Veolia Water Technologies (Sidem): Veolia, via its Sidem desalination unit and broader water technologies business, is a global incumbent competing for the same large-scale desalination and industrial water concessions as Almar, with a wider portfolio of solutions and stronger balance sheet.
• Cobra (ACS Group / VINCI): Cobra (within ACS / now partially VINCI) develops large water and energy infrastructure concessions globally, including desalination and transmission. It competes with Almar on PPP bids and has the EPC scale and balance sheet to challenge on mega-projects.

Emerging players

• Metito (GIC platform): Metito is a developer and investor in water and wastewater PPP projects across MENA and Africa, often partnering with financial sponsors (now GIC-backed). It is comparable as a developer-led water concession peer, though more regionally focused than Almar.

Regional players

• Doosan Heavy Industries & Construction (Desalination): Doosan Enerbility is a Korean EPC contractor with a leading position in large-scale seawater desalination plants in the Middle East. It is comparable as a technology-rich desalination counterpart competing for similar mega-RO concessions, primarily in Saudi Arabia and the wider Gulf.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AlmarWater
• Facebookfacebook.com/almarwatersolutions
• LinkedInlinkedin.com/company/almarwatersolutions

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Almar Water Solutions