Abu DhabiWednesday, April 06, 2005
Mubadala Development Company yesterday announced it has acquired 30 per cent equity in Tanqia FZC, a private company based in the Fujairah Free Zone.
try{document.write(zawya_banner_zone('zone9337')); }catch(e){} Tanqia has been granted an exclusive 33-year concession to manage the emirate's waste water sector within Fujairah Municipality including Qidfa and Mirbah.
"Through the vision and leadership of His Highness Shaikh Hamad Bin Mohammad Al Sharqi, Supreme Council Member and Ruler of Fujairah, a solution that will meet the emirate's environmental targets for the next 25 years has been created," said Khaldoon Khalifa Al Mubarak, Chief Executive, Mubadala. "It has also provided a practical model for a public-private partnership in the UAE's wastewater infrastructure."
Tanqia's shareholders include Infrastructure Capital Group of the UAE with operations in the US and the EU and Overseas Trading Company, wholly-owned by the Fujairah government.
©Gulf News