Abu Dhabi eyes $275m worth of investments in Turkmenistan
Published 04 Feb,2021 via Arab News - Economy DUBAI - The Abu Dhabi Fund for Development (ADFD) on Wednesday signed three memoranda of understanding (MoUs) with the government of Turkmenistan to invest in a variety of potential projects including renewable energy, air transport, agriculture, and tourism.
The first MoU will see the establishment of an investment company in Turkmenistan with a target capital of AED370 million ($100 million), where Turkmenistani officials will present possible schemes to ADFD for investment.
Both parties will initially contribute AED58.7 million between them and the areas targeted for potential backing include sectors such as energy, agriculture, tourism, and industry.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Arab News