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FINANCIAL NEWS
Abu Dhabi’s Mubadala to invest USD5.47b in 2012
09 May 2012
(MENAFN) Mubadala announced that during the current year, the company is forecasted to invest USD5.47 billion to expand some of its projects, reported Reuters.
The investment vehicle of the Abu Dhabi government added that the bulk of that amount will be spent on the firm’s semiconductor unit Advanced Technology Investment (ATIC); Mubadala’s joint venture with General Electric, solar energy project Masdar and oil and gas projects.
It also said that although ATIC had a deficit of USD1.12 billion as of the end of last year, the unit was increasing its investments to enhance capacity and research.
It is worth noting that state-owned Mubadala, which recently acquired a USD2 billion stake in Brazilian conglomerate EBX Group, owns stakes in General Electric and Carlyle CYL.UL, the private equity firm.
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