UAE's ADQ to invest $10 bln in projects with Egypt, Jordan - WAM


Reuters | Dubai | Updated: 29-05-2022 17:01 IST | Created: 29-05-2022 17:00 IST
UAE's ADQ to invest $10 bln in projects with Egypt, Jordan - WAM
Representative image Image Credit: Pixabay
  • Country:
  • United Arab Emirates

Abu Dhabi state holding firm ADQ will allocate $10 billion in investment for projects with Egypt and Jordan, the United Arab Emirates state news agency WAM reported on Sunday, citing the Industry and Advanced Technology Minister Sultan Al Jaber.

ADQ has become the leading vehicle for outbound investments from Abu Dhabi, managing about $110 billion in assets, according to Global SWF. It acquired a 45% stake in commodities trader Louis Dreyfus Co (LDC) in 2021. The partnerships will focus on areas of mutual interest including agriculture, pharmaceuticals, minerals, petrochemicals and textiles, the state news agency (MENA) reported in a separate statement on Sunday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback