UAE: Alpha Dubai invests in Ta’ziz firm to leverage expansion

2021-12-19 04:14:02

(MENAFN) A subsidiary of Abu Dhabi's International Holding Company, Alpha Dhabi Holding, is putting in USD272.3 million in Abu Dhabi Chemicals Derivatives Company, known as Ta’ziz, in order to pursue its development plans.

The company reported in an update to the Abu Dhabi Securities Exchange, where its shares are traded, the investments balances the firm’s “strategic diversification” throughout specific industries, as Ta’ziz is vigorous in Alpha Dhabi’s key businesses of agriculture, energy, healthcare, pharmaceuticals, construction and heavy transport and chemical industry fields.

Hamad Al Ameri, managing director and chief executive of Alpha Dhabi, mentioned: “Ta’ziz and its operations in the UAE represent an excellent investment opportunity for Alpha Dhabi Holding,” adding “we foresee our relationship developing into a long-term contributor not only to the nation’s economy, but to the regional and global competitiveness of Alpha Dhabi Holding, Abu Dhabi and the UAE.”

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