The investment, the first by the fund, will be used as part of ZonesCorp’s plan to develop road, irrigation, sewerage and electricity networks in the Industrial City of Abu Dhabi, near Mussaffah.
ADCB and Macquarie hope to raise a total of $1bn from regional international investors for the ADCB Macquarie Infrastructure Fund that will be invested around the GCC.
The fund has raised $630m so far, and is one of a number of infrastructure investment funds that have been launched around the region, many of which have only made limited investments so far (MEED 20:3:08).
You might also like...
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
Algeria signs oil deal with Swedish company
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.