Friday 9 October 2015

Abu Dhabi revamps industrial investment unit

Abu Dhabi, July 13, 2010

Abu Dhabi has reshuffled the board of its industrial investment arm General Holding Corporation (GHC), naming Hussain al-Nowais as chairman, the state news agency WAM said.

Nowais, who was GHC's vice chairman earlier, told Reuters in May that the conglomerate would invest $10 billion in the next few years as it drives the industrial diversification of the oil-exporting emirate.

GHC's earlier chairman, Sheikh Hamed bin Zayed al-Nahayan, was named managing director of Abu Dhabi Investment Authority (ADIA) in April.

The other board members are Mohammed Rashid al-Hamli, director-general of the Abu Dhabi Chamber of Commerce & Industry, Abobaker Seddiq al-Khouri, managing director of Sorouh Real Estate, Fahd Saidi al-Raqbani of the Abu Dhabi Economic Council and Saif Mohammed al-Hajeri, CEO of the Offsets Programme Bureau.

The new members were appointed for five years by Sheikh Mohammed bin Zayed al-Nahayan, crown prince of Abu Dhabi, WAM reported.-Reuters

Tags: abu dhabi | GHC | revamp |

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