Mubadala Development Company goes from strength to strength. The Abu Dhabi state-owned fund entered into agreements last month in Africa and Europe that total billions of dollars of investment.
In its biggest deal, Mubadala signed an agreement with Dubai Aluminium (Dubal) and Algerian state-owned energy company Sonatrech to build a $5 billion aluminium smelter in the north African country. The smelter is expected to produce 700,000 tonnes of aluminium a year, largely for export.
Mubadala also completed the financing of two independent water and power projects in Oman. On March 14, the company completed a limited-recourse financing of the Barka 2 Independent Water and Power project. It also concluded the acquisition of the Al Rusail Power Company. Mubadala co-financed the...
