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FINANCIAL NEWS
Abu Dhabi’s Taqa to invest over USD2b this year
15 Aug 2012
(MENAFN) Abu Dhabi National Energy Company (Taqa) unveiled plans to invest over USD2 billion this year, Reuters reported.
The energy and utility firm, 75 percent owned by Abu Dhabi government, spent USD949 million in the first half, and is on track to spend up to USD2.2 billion in 2012, CEO Carl Sheldon said.
He added that Taqa is also targeting investments in Turkey after talks with the Turkish government.
Taqa, which owns assets across Canada and Europe, reported a 2.8 percent increase in second-quarter profit to USD121.7 million, up from USD118.43 million a year earlier.
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