UAE's ADQ to allocate $10 bln in investments in partnership with Egypt, Jordan - report

Abu Dhabi state holding firm ADQ will allocate $10 billion in investment for projects with Egypt and Jordan, the United Arab Emirates state news agency WAM reported on Sunday, citing the Industry and Advanced Technology Minister Sultan Al Jaber.

ADQ has become the leading vehicle for outbound investments from Abu Dhabi, managing about $110 billion in assets, according to Global SWF. It acquired a 45% stake in commodities trader Louis Dreyfus Co (LDC) in 2021.

The partnerships will focus on areas of mutual interest including agriculture, pharmaceuticals, minerals, petrochemicals and textiles, state news agency (MENA) reported in a separate statement on Sunday.