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[Prime Minister’s Office/Via InTime News]
Dozens of investment projects are being considered by Greece and the United Arab Emirates. Relations between the two countries have come a long way since they signed a joint partnership declaration and a cooperation agreement on foreign policy and defense issues less than a year ago.
Greece prioritizes energy – including renewables – tourism, high technology, infrastructure, real estate and deals with small and medium-sized enterprises. Greek diplomats said Abu Dhabi Development Holdings (ADQ) was evaluating investments in Greek pharmaceuticals, ports – especially Heraklio on Crete – logistics, airports and highways. ADQ is also in direct contact with the Department of Environment and Energy on investments in the energy sector.
In May 2022, ADQ signed a strategic investment cooperation agreement with the Greek Development Bank and the Greek Investment and Development Bank, and planned to spend 4 billion euros in investment projects in Greece. A framework for a major investment initiative that will create a joint venture fund is being prepared.
Abu Dhabi’s state-owned oil company ADNOC has signed an agreement with refiner Motor Oil to supply LNG to Greece, including a planned floating storage and regasification unit at Motor Oil.
Masdar, another major investment fund, is considering building renewable energy, including wind farms, on the Greek island. It is also reportedly interested in producing “green” hydrogen, desalination plants powered by renewable energy, and energy storage projects.
The Mubadala Fund, known for its early investments in fishing, recently announced a partnership with Costamare Group to build hotels, golf courses and housing in southwestern Greece. It is also considering investments in shipping, terminals and several clinics.
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