a well diversified portfolio
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Last Updated : GMT 06:49:16
Arab Today, arab today

A well diversified portfolio

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Arab Today, arab today A well diversified portfolio

Dubai - Arabstoday

Mubadala has a well diversified portfolio ranging from energy and real estate to aerospace. As a strategic strategic investment and development company, it is playing a catalyst's role in transferring technology to Abu Dhabi that will help the emirate diversify its economy further. The following are the key areas where Mubadala is developing economic clusters to help realise the economic vision of Abu Dhabi: Dolphin Energy, a regional gas production and pipeline company, sold its full capacity and Mubadala says it achieved a significant milestone with the cumulate production of its three trillionth cubic foot of gas in December. The company is also acquired new interests in Malaysia, Tanzania and Vietnam. Dolphin Energy received strong demand for a new 10-year bond, the first benchmark-size conventional issued this year from a Gulf Arab company. Dolphin, which is majority-owned by Mubadala, is rated AA by Standard & Poor's. Mubadala says Emirates Aluminium (Emal) produced its millionth tonne of aluminium in November last year following the completion of the project's first phase in January 2010. The second phase, which is expected to expand capacity by another 500,000 tonnes per annum, has been approved by Emal's board of directors. Matthew Hurn, the executive director of Mubadala's group treasury unit, told Gulf News in February that a range of financing options were being considered for the second phase. Information, communications and technology Yahsat launched Abu Dhabi's first satellite, Y1A last April. Mubadala says the commercial satellite company will launch its second satellite in the second quarter of 2012. he Advanced Technology Investment Company (ATIC), Mubadala's semi-conductor unit, confirmed earlier this year it had acquired full ownership of California-based microchip manufacturer GlobalFoundries. The deal went through after Advanced Micro Devices, a multimational semi-conductor company, agreed to sell its remaining 8.8 per cent equity stake in GlobalFoundries to ATIC. Construction work progressed on Shams I, a solar power facility under construction near Madinat Zayed in Abu Dhabi. The project is being built at a cost of $600 million (Dh2.2 billion) and the first phase will have a capacity of 100 megawatts (MW). In a separate development, Mubadala said Masdar's Torresol Energy inaugurated the Gemasolar 19.9 megawatt concentrated solar power plant in Spain. Strata, a private sector aerostructures company based in Al Ain, saw the first aerospace components coming off its production line and delivered to customers in 2011. The new Zayed University campus was inaugurated in September 2011 to form another part of Abu Dhabi's education infrastructure, which also includes the UAE University in Al Ain, the Paris-Sorbonne University Abu Dhabi and the New York University's temporary campus. A health facility was completed in Al Ain following strong demand for the Imperial College London Diabetes Centre in Abu Dhabi. Tenants started moving into Sowwah Square, part of Abu Dhabi's new business district, including Deloitte, Clifford Chance, Al Tamimi, Latham & Watkins, Mubadala GE Capital and the Regulation and Supervision Bureau. From gulfnews

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