UAE's ADNOC signs multi-billion-dollar pipeline infrastructure deal | ZAWYA MENA Edition:
Abu Dhabi National Oil Company (ADNOC) said on Tuesday it has signed a deal with a consortium of infrastructure investors who will invest in select ADNOC gas pipeline assets valued at $20.7 billion.
The agreement with Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore's sovereign wealth fund GIC, Ontario Teachers' Pension Plan Board, NH Investment & Securities and Italy's Snam will yield $10.1 billion in foreign direct investment, ADNOC said in a statement.
The investors will acquire a 49% stake in ADNOC Gas Pipeline Assets, a newly formed subsidiary of ADNOC with lease rights to 38 pipelines covering a total of 982.3 kilometers, with ADNOC holding the remaining 51% majority stake, the company said.
No comments:
Post a Comment