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Dh200bn Projects to Help Realize Abu Dhabi’s Diversification from Oil and Gas

Abu Dhabi : 30 April 2010

At a recent conference organized by the Department of Economic Development held in Abu Dhabi, The Abu Dhabi Chamber of Commerce and Industry’s Economist, Dr Mohammed Abdul Rahim, announced the launch of five new major projects that will change the face of industry in Abu Dhabi, and ensure the Emirate is less dependent on the Oil and Gas sector. The Dh200 billion will be invested in five new projects as follows:

  • A new project by Emirates Aluminium worth Dh21 billion
  • A project by Strata composites aero structures worth in the region of Dh10 billion,
  • Dh15 billion is to be spent on Abu Dhabi Polymers
  • Dh73.6 billion is being invested in the development of a Nuclear Energy project
  • A new computer chip plant worth approximately Dh36 billion.

In 2009 Abu Dhabi was recorded to have had 346 industrial enterprises and this accounted for half of the value of investments within the United Arab Emirates. However some say the plans going forward are very ambitious considering the lack of investment available at the present time and the slowness of uptake for these projects at present.

The conference ended with a recommendation for an industrial bank to be established in Abu Dhabi to finance such projects.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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