Mubadala MUDEV.UL, the Abu Dhabi government's investment vehicle, expects to spend about 20.1 billion dirhams ($5.47 billion) this year as its seeks to expand a diverse line of businesses ranging from oil and gas to semiconductors.
"The group currently anticipates that its capital and investment expenditure for 2012 is likely to be substantially in line with the 20.1 billion dirhams annual average for the past three years," it said in a update of its bond program.
The state-owned fund, which has stakes in General Electric (GE.N) and private equity firm Carlyle CYL.UL, expects a majority of that expenditure to relate to its semiconductor unit Advanced Technology Investment (ATIC); its joint venture with General Electric (GE.N); solar energy project Masdar and oil and gas projects.
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