On September 14, 2022, in the Dutch Embassy in Riyadh, Al Bawani Water & Power Company (AWP) signed an acquisition agreement for all of A. Hak Saudi Arabia’s shares. Henk Herremans, CEO of Dutch A. Hak, and Eng Fakher Al Shawaf, Group CEO of Al Bawani, inked the agreement in the presence of Janet Alberda, HE the Dutch Ambassador to the Kingdom of Saudi Arabia.
Eng. Fakher Al Shawaf commented: “The acquisition of A. Hak by Al Bawani represents a valuable addition to the construction and infrastructure sector and it will support Al Bawani’s growth plans in the water and environment, energy and oil & gas sectors. A. Hak has a proven track record of great success and achievements with Aramco, Saline Water Conversion Corporation (SWCC), and the National Water Company (NWC).”
A. Hak has a proven track record of great success and achievements
Henk Herremans, the CEO of A. Hak, said: “In our 45 years in the Kingdom, we have successfully completed a large number of bigger and smaller projects together with our partners. Because of the energy transition in the Netherlands, the rest of Europe, and the United Kingdom, there is a tremendous amount of work to be realised relatively close to where we are. So, we redefined our home market accordingly. For that reason, we started to look for a potential new owner at the beginning of 2021, and after some selections, we entered negotiations with Al Bawani Water and Power Limited. We are pleased that our activities in Saudi Arabia will continue through a trusted organization and that the employment for all our people involved is secured.”