Saudi construction giant Nesma & Partners has signed a memorandum of understanding with France’s Saur Group, a global leader in sustainable water and wastewater management, to advance water infrastructure projects in the Kingdom.
The signing took place at the French Consulate in Jeddah, in the presence of the French Consul General.
Bilateral trade between the two countries reached nearly €17 billion in 2024. France is also Saudi Arabia’s second-largest foreign investor, with more than €2.8 billion in investments and over 160 French companies active in the local market.
Speaking to Asharq Al-Awsat, Patrick Blethon, CEO of Saur Group, emphasized that innovative financing lies at the heart of the company’s global expansion strategy. He noted that Saur was the first to issue both green and blue bonds in the water sector and plans to launch a new issuance of blue bonds next year.
“These innovative financial tools allow us to invest globally in water and infrastructure projects,” he said. “Saudi Arabia will be a key beneficiary, given the scale of its strategic initiatives.”
Blue bonds, which fund sustainable water infrastructure, are seen as more cost-effective than traditional financing methods, offering stable returns with lower risk. They support projects such as desalination, wastewater treatment, and water recycling. Saur launched the world’s first blue bond, opening a new avenue for funding large-scale water projects aligned with Vision 2030.
Blethon identified water reuse as the biggest challenge ahead, citing projections of global water crises by 2050. He said Saur’s technologies can recycle up to 45 percent of residential water for non-drinking uses such as cleaning, irrigation, and sanitation.
The partnership with Nesma will cover the full water cycle - from treatment to reuse and distribution - in collaboration with Saudi Arabia’s National Water Company. Saur also plans to establish its regional headquarters in the Kingdom, using it as a hub to expand into the Gulf, Middle East, and Africa.
Samer Abdul Samad, CEO of Nesma & Partners, stressed that the deal comes at a critical time for Saudi Arabia’s water sector, which faces mounting pressures on natural resources and growing demand.
“This partnership translates into practical solutions that enhance national water security,” he said. Unlike previous localized projects, the new model is based on public-private partnerships (PPP), extending beyond construction to long-term operation and maintenance, ensuring sustainable outcomes.
Abdul Samad added that artificial intelligence and advanced technologies will underpin water management systems, enabling faster and more efficient responses to rising demand. With the Public Investment Fund now a shareholder in Nesma, the company is also exploring innovative financing tools for future mega-projects.
“Our ambition goes beyond Saudi Arabia,” he said. “We aim to export Saudi expertise and solutions to regional markets, positioning the Kingdom as a hub for water innovation.”
