UAE’s ADQ to invest $10 billion in projects with Egypt, Jordan – WAM

1 min read

(Reuters) -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, state news agency (MENA) reported in a separate statement on Sunday.

(Reporting by Nayera Abdallah and Moataz MohamedEditing by Emelia Sithole-Matarise and Mark Potter)

Breaking News
U.S. complaints against airlines soar as on-time arrivals fall