Mubadala Investment Company signed investment and partnership agreements with Uzbekistan on co-operation in power, renewables and oil and gas.
The strategic investment firm signed the agreement with government entities responsible for power generation, transmission and distribution as well as the the country’s trade ministry, the Abu Dhabi company said on Tuesday.
Uzbekistan, which borders large oil and gas producers Kazakhstan and Turkmenistan, has hydrocarbon reserves but is not a massive operator in the sector. The agreements with Mubadala follow the visit of Uzbek president Shavkat Mirziyoyev to Abu Dhabi, which included the signing of about $10 billion worth of investment agreements across sectors including energy, industry, infrastructure, development and agriculture.
Mubadala will look to identify opportunities for investment in conventional power generation with Uzbekenergo, a state-owned entity that oversees the full gamut of utilities in the Central Asian country. The projects will be executed on the basis of the independent power producer model.
Mubadala Petroleum, a subsidiary of the strategic investment firm, will look to explore partnership and investment opportunities to boost production across certain oil and gas fields, it said.
Last year, state-owned Abu Dhabi National Oil Company signed an agreement with an Uzbek company to provide strategic advice on upstream and downstream operations.
Adnoc said last year that it would look to support state-owned Uzbekneftegaz’s growth plans even as it looked to "maximise the value of the country’s oil and gas resources".
Partnerships were also signed between Abu Dhabi’s Masdar and Uzbekenergo to pursue renewable energy projects.
Killing of Qassem Suleimani
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs
Engine: 2.9-litre, V6 twin-turbo
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
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Transmission: 8-speed auto
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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
UAE currency: the story behind the money in your pockets
