Abu Dhabi Government holding company has been rapidly expanding its portfolio

Abu Dhabi Executive Council has issued a decree transferring the full ownership of Emirates Nuclear Energy Corporation (Enec) from the Abu Dhabi Government to the emirate’s holding company ADQ with immediate effect.

Enec joins ADQ’s strategic utility portfolio that also includes Abu Dhabi National Energy Company (Taqa), Abu Dhabi Sewerage Services Company (ADSSC) and Emirates Water and Electricity Company (Ewec).

In a statement issued on 22 September, ADQ CEO Mohamed Hassan Alsuwaidi said they are working closely with the utility companies to advance the nation’s infrastructure and support the growth and development of the various sectors of the economy.

Enec is driving the UAE’s peaceful nuclear energy programme. It is the client for the $24bn Barakah Nuclear Power Plant scheme, whose first reactor came online on 1 August.

The plant’s second reactor is undergoing commissioning.

Acquisition drive

On 22 September, ADQ announced acquiring approximately 22% of the issued share capital of Dubai-listed logistics company Aramex.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

ADQ said the shares were acquired through a series of on-market transactions and through an off-market special deal.

ADQ has been strengthening its portfolio this year. Earlier in September, it formed a new company called Silal to support food security in Abu Dhabi. The company will diversify food sources and increase locally grown, raised and manufactured food.

ADQ was established in 2018 as a public joint-stock company. It holds a broad portfolio of major enterprises, spanning tourism and hospitality, aviation, transportation, logistics, industrial, real estate, media, healthcare, food and agriculture, and financial services, in addition to utilities.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here