The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Investment authorities: Mubadala expands its reach

Abu Dhabi investment vehicle builds global partnerships.

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 transactions with Suez Energy and Oman’s National Trading Company. The three investors financed the deals via an $800 million syndicated loan led by HSBC and Sumitomo Mitsui.

The Abu Dhabi company is also in negotiations with Dubal, BHP Billiton and Canada’s Global Alumina Corporation to form a venture to operate Global Alumina’s refinery project in Guinea.

In Italy, Mubadala is seeking joint ventures with Finmeccanica in a range of aerospace and defence projects.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?