25.2 C
Dubai
Thursday, November 14, 2024
spot_img

Alpha Dhabi Holding invests 1 billion dirhams in Ta’ziz

[ad_1]

Alpha Dhabi Holding PJSC (ADH), a corporate group headquartered in Abu Dhabi and ADX listed company, announced that it will invest approximately AED 1 billion in Abu Dhabi chemical derivatives company RSC Ltd. (known as TA’ZIZ).

This move is part of the expansion plan and future strategy announced by Alpha Dhabi Holding last week. The goal is to invest 8 billion dirhams in real estate, hotels, healthcare, petrochemicals and other promising industries inside and outside the UAE.

When announcing the announcement, Eng. Hamad Salem Mohamed Al-Ameri, Managing Director and CEO of Alpha Dhabi Holding, said: “TA’ZIZ and its presence in the UAE represent an excellent investment opportunity for Alpha Dhabi Holding and complement our organization’s promising growth. Strategic diversification opportunities, especially because the company is successfully active in our core businesses in the fields of agriculture, energy, healthcare, pharmaceuticals, construction, and heavy transportation and chemical industries. We expect that our relationship will develop not only to the country’s economy , And a long-term contributor to the regional and global competitiveness of Alpha Dhabi Holdings, Abu Dhabi and the UAE.”

TA’ZIZ is an industrial services and logistics organization that supports and supports the development of the Ruwais Industrial Park and meets the downstream, chemical and petrochemical needs of Abu Dhabi’s industrial sector through advanced manufacturing services.

The chemical supply chain is an important part of the “300 billion action”, which is an industrial growth strategy supported by the UAE Ministry of Industry and Advanced Technology. The strategy aims to increase the contribution of the UAE’s industrial sector to the national GDP to 300 billion dirhams. Ram. 2031. The partnership between ADH and TA’ZIZ takes advantage of a series of opportunities in an attractive industry, as global chemical demand is expected to grow and there is an opportunity to promote new supply chains through local production.

Abu Dhabi-based Chimera Capital advised Alpha Dhabi Holding on its investment in the new ADGM-based TA’ZIZ investment platform.

[ad_2]

Source link

Related Articles

Abu Dhabi Oil and Gas Summit Ignites Strategic Dialogues on Energy Security and Innovation Amid Regional Challenges

Abu Dhabi: The UAE’s oil and gas industry recently convened for its annual summit in Abu Dhabi, where top energy leaders discussed strategies for...

Abu Dhabi Leads Global Health Frontier: Largest-Ever WHO Emergency Medical Teams Meeting Unites 1,300 Experts Worldwide

Abu Dhabi recently marked a milestone in global health by hosting the largest-ever World Health Organization (WHO) Emergency Medical Teams (EMT) meeting. This pivotal gathering...

ADNOC Unveils Cutting-Edge AI Program: Transforming Efficiency and Innovation in Energy

ADNOC unveiling of its AI program marks a significant step forward in the digital transformation of the energy industry. Abu Dhabi National Oil Company (ADNOC)...

ADIPEC 2024 Unites Global Leaders in Abu Dhabi to Shape a Sustainable Energy Revolution

ADIPEC 2024 Ignites a Bold Vision for UAE’s Sustainable Energy Future: Global Leaders Unite in Abu Dhabi to Drive Innovation and Shape a Greener...

From Vision to Reality How Harshit Aggarwal’s Novamax Industries is Redefining Cooling Solutions

In the fast-evolving world of startups, where passion meets perseverance, Harshit Aggarwal has carved out an impressive path with Novamax Industries LLP. Founded in...

Latest Articles