Veolia, Vision Invest and ADQ signed agreement for the treatment of hazardous industrial waste

Veolia, Vision Invest and ADQ signed agreement for the treatment of hazardous industrial waste

A consortium formed by Veolia, Vision Invest and ADQ, under an innovative, one of a kind, non-recourse project finance scheme, has signed an agreement to acquire two hazardous industrial waste treatment plants of the Al Ruways complex from ADNOC Refining. With an annual capacity of nearly 70,000 tonnes, these plants currently treat most of ADNOC’s industrial hazardous waste.

Through this agreement, Veolia, and its partners ADQ and Vision Invest will treat the hazardous industrial waste of Abu Dhabi’s biggest industrial complex in Al Ruways that includes the largest oil refinery in the Middle East. The contract will start in 2023, subject to customary completion requirements, and will more than double Veolia Hazardous waste activity within the Middle East.

Pioneer and leading provider of hazardous waste management solutions in the Middle East, Veolia will lead the plants operations in Al Ruways, leveraging on its comprehensive expertise covering the entire hazardous waste treatment chain. The group will have 50,1% participation in the operating company alongside Vision Invest (24.95%) and ADQ (24.95%).

The solutions developed by Veolia will help to further mitigate the environmental impact of industrial activities and promote a circular economy approach. Veolia will specifically focus on maximizing the resource recovery (water and oil)