By: Amr Adel

Dubai - Mubasher: Imdaad is close to completing the acquisition of a utilities company in Dubai before the end of 2017, the company’s head of operations said Monday.

Mahmoud Hussien Rasheed told reporters on the sidelines of the 19th Water, Energy, Technology and Environment Exhibition (WETEX) in Dubai that the value of the acquisition could reach AED 80 million.

Through this acquisition, Imdaad aims to expand its activities and operations, he added.

The top official did not name the company Imdaad plans to acquire.

Rasheed expects the total value of Imdaad’s contracts to amount to around AED 500 million by the end of 2017.