Tahnoon Bin Zayed Chairs ADQ Board Meeting To Review Financial Performance And Strategic Investments

H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, led the ADQ board meeting as Chairman. The meeting highlighted ADQ's ongoing efforts to enhance Abu Dhabi's economic landscape by focusing on infrastructure and supply chains. The board reviewed ADQ's financial performance for 2024, noting continued growth and key business milestones that reinforce its role as a transformative investor.

The board received updates on significant transactions and partnerships over the past three months. These initiatives align with ADQ's strategy of building global business platforms centred on critical infrastructure. Recent developments include the creation of Plenary Middle East, a joint venture with Plenary Group targeting public infrastructure in the Middle East and Central Asia.

ADQ has also formed Orion Abu Dhabi with Orion Resource Partners, focusing on investments in critical minerals across Africa, Asia, and Latin America. Both ventures are part of the newly established Infrastructure & Critical Minerals cluster aimed at supporting diverse economic sectors. This cluster will house these investments to create world-class platforms essential for various industries.

In line with its partnership strategy, ADQ signed an MoU with the International Finance Corporation to pursue high-impact development projects. Another agreement was made with Vietnam's State Capital Investment Corporation to explore mutual investment opportunities. Additionally, an MoU with Eni aims to strengthen supply chains for critical minerals crucial for energy transition.

ADQ is advancing innovation through the deployment of an AI Board advisor named Q. This voice-enabled system integrates multiple AIs to provide strategic insights during board discussions. It aligns with the UAE National Strategy for Artificial Intelligence 2031, positioning ADQ as a leader in AI-driven corporate governance.

The board was informed about achievements within ADQ's portfolio companies, including a groundbreaking solar and battery storage project in Abu Dhabi by Emirates Water and Electricity Company (EWEC) and Masdar. This project combines significant battery storage capacity with solar power, setting new standards in clean energy innovation.

Commitment to Economic Growth

Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, emphasised the organisation's commitment under H.H. Sheikh Tahnoon's guidance. He stated that ADQ consistently contributes to enhancing local economic resilience and competitiveness through strategic partnerships and investments.

The meeting concluded with updates on ADQ's non-financial impact in elevating infrastructure and community well-being. Attendees included H.H. Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Jassem Mohamed Bu Ataba Alzaabi, Mohamed Hassan Alsuwaidi, Ali Mohammed Hammad Al Shamsi, and Dr. Ahmed Mubarak Al Mazrouei.

With inputs from WAM