General Holding Corp to invest 15 billion dirhams in Abu Dhabi’s metals and petrochem sector over five years

03-Mar-11

Abu Dhabi government-owned General Holding Corporation plans to invest up to 15 billion dirhams in the metals and petrochemicals sector over five years as part of a diversification push. The firm is planning to tap debt markets through a bond issue in 2012 or 2013 to finance its petrochemical investments. He gave no further details. As it sets up more industries, GHC will form partnerships with strategic investors, both local and foreign. The company has secured some very high-profile foreign partners for joint ventures in metal and petrochemicals. We will execute the projects in the next five to six months.