Tuesday 1 November 2011

Mubadala inks first China deal - The National

Mubadala has made its first investment in China by forming a joint venture to create a US$150 million plant that will supply material for the UAE's aluminium smelting industry.

In a ceremony yesterday in Zhenjiang, a city by the Yangtze River in Jiangsu province, Mubadala Industry, part of Mubadala Development, a strategic investment company owned by the Abu Dhabi Government, signed an agreement to develop the facility with Jiangsu Surun High Carbon Company.

Mubadala said the project was likely to be the first of a series of investments it makes in the world's second-largest economy.

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