Abu Dhabi's ADQ, one of the biggest holding companies in the region, has added Abu Dhabi Waste Management, better known as Tadweer, to its energy and utilities portfolio as it continues to diversify its assets.
The ownership of Tadweer was transferred to ADQ by the Abu Dhabi government after its conversion into a public joint stock company, ADQ said on Friday.
The addition of Tadweer complements ADQ’s efforts to shape the nation’s sustainable future and build an integrated portfolio of global champions within their diversified clusters.
The transfer further solidifies the holding company’s position in supporting the circular economy and driving “excellence across its expanding asset portfolio”, ADQ said.
“Waste management is a cornerstone of a circular economy, which contributes to a more sustainable future for the UAE,” said Hamad Al Hammadi, executive director of the energy and utilities portfolio at ADQ.
“Tadweer is a valuable addition to our energy and utilities portfolio, particularly as it plays a vital role in extracting value through recycling and the reuse of waste.
Tadweer adds to ADQ’s efforts and its investments across key clusters in the local economy that are already “contributing to a sustainable environment.”
ADQ’s energy and utilities portfolio includes assets including Abu Dhabi National Energy Company, better known as Taqa, the Emirates Nuclear Energy Corporation, better known as Ewec, the Emirates Water and Electricity Company and the Abu Dhabi Sewerage Services Company.
Tadweer is the sole company handling waste management in the emirate of Abu Dhabi. It aims to develop an integrated waste management sector and extract value from waste to contribute to national sustainability ambitions.
“Becoming part of the ADQ portfolio is a key milestone on our journey to transform Abu Dhabi’s approach to waste management,” said Tadweer's acting director general Ali Al Dhaheri.
“Developing an integrated waste management sector remains fundamentally important to Abu Dhabi and the health and safety of its community.”
Being part of Abu Dhabi’s largest portfolio of energy and utilities investments under the ADQ banner will strengthen “our proposition, help us forge new partnerships with its portfolio companies and achieve our goal of significantly reducing waste in landfills over the next decade”, Mr Al Dhaheri said.
The UAE plans to invest Dh600 billion ($163 billion) in clean and renewable energy sources in the next three decades as part of its Net Zero 2050 strategy.
National champions such as Taqa, one of the largest utilities and clean energy companies in the world, Ewec and Tadweer are leading Abu Dhabi’s efforts to develop a clean and sustainable economy as the country’s carries out its plans for the next 50 years of growth.
In July, Ewec and Tadweer issued a request for proposals for a new greenfield waste-to-energy independent power project being built in Abu Dhabi.
A total of 109 companies and consortiums presented their expressions of interest for the project. Proposals will be accepted until the fourth quarter of 2022, the companies said at the time.
The waste-to-energy plant will help to reduce carbon emissions from traditional waste management and will support the UAE's net-zero goals.
Established in 2018, ADQ’s investments span key sectors, including energy and utilities, food and agriculture, health care and life sciences, and transport and logistics.
UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Emiratisation at work
Emiratisation was introduced in the UAE more than 10 years ago
It aims to boost the number of citizens in the workforce particularly in the private sector.
Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers
The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension
President Sheikh Khalifa has described Emiratisation as “a true measure for success”.
During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development
More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics
The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens
UAE citizens will be given priority in managerial positions in the government sphere
The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
25-MAN SQUAD
Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi
Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi
Midfielders: John Obi Mikel, Wilfred Ndidi, Oghenekaro Etebo, John Ogu
Forwards: Ahmed Musa, Victor Osimhen, Moses Simon, Henry Onyekuru, Odion Ighalo, Alexander Iwobi, Samuel Kalu, Paul Onuachu, Kelechi Iheanacho, Samuel Chukwueze
On Standby: Theophilus Afelokhai, Bryan Idowu, Ikouwem Utin, Mikel Agu, Junior Ajayi, Valentine Ozornwafor
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
More from Rashmee Roshan Lall