Alpha Dhabi Holding, a subsidiary of Abu Dhabi's International Holding Company, is investing Dh1 billion ($272.3 million) in Abu Dhabi Chemicals Derivatives Company, known as Ta’ziz, as part of its expansion drive.
The investment complements the company’s “strategic diversification” across selected sectors, as Ta’ziz is active in Alpha Dhabi’s core businesses of agriculture, energy, healthcare, pharmaceuticals, construction and heavy transport and chemical industry sectors, it said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
“Ta’ziz and its operations in the UAE represent an excellent investment opportunity for Alpha Dhabi Holding,” said Hamad Al Ameri, managing director and chief executive of Alpha Dhabi.
“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.”
Alpha Dhabi is among eight UAE-based investors that signed an agreement with Ta’ziz to take up to a 20 per cent stake in a portfolio of projects worth Dh15bn in its Industrial Chemicals Zone in Ruwais.
The local investors are taking up the stakes alongside Abu Dhabi National Oil Company, ADQ, and other global strategic partners. The deal also marks the first domestic public-private partnership in Abu Dhabi’s downstream and petrochemicals sector, Adnoc said in a statement last week.
Al Dhafra Co-operative Society, Al Nasser Holdings, Arab Development Establishment, Buhairan Limited Company, Capital Investment, Mazrui International and Mazrui Energy Services and Riverside Investments are the other investors investing in the emirate’s downstream sector.
Ta’ziz is an industrial services and logistics company that enables and supports growth of the Ruwais Industrial Complex and fulfils Abu Dhabi’s downstream, chemical and petrochemical requirements across industrial sectors.
The Ta'ziz Industrial Chemical Zone projects are currently in the design phase and are expected to start operations in 2025.
The chemicals sector is an integral part of the UAE's Operation 300bn, which aims to raise the contribution of the country's industrial sector to its gross domestic product to Dh300bn by 2031.
Last week, Alpha Dhabi said it will invest Dh8bn across various sectors as part of its expansion strategy to boost growth.
The company is targeting investments in real estate, hospitality, healthcare, petrochemicals and “other promising sectors” in the UAE and outside the country, it said in a statement.
“We believe that a carefully administered investment ... will help fulfil our responsibility to shareholders, adding value by expanding our diverse portfolio,” Mr Al Ameri said at the time.
Alpha Dhabi, which has a market value of Dh256.8bn and was previously known as Trojan Holding, has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions this year.
Earlier this year, it acquired the entire share capital of Murban, a company with investments in the hospitality, facility management services and oil and gas services sectors and a 70 per cent stake in Mawarid Holding Investment, which is engaged in Sharia-compliant financing and investing activities through Aafaq Islamic Finance.
Alpha Dhabi also holds a 12 per cent stake in Aldar, Abu Dhabi’s biggest property developer, a 65.11 per cent stake in National Marine Dredging Company and 40 per cent of Response Plus Medical, which is involved in management of ambulance services and home health services.
Sholto Byrnes on Myanmar politics
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
The bio
Date of Birth: April 25, 1993
Place of Birth: Dubai, UAE
Marital Status: Single
School: Al Sufouh in Jumeirah, Dubai
University: Emirates Airline National Cadet Programme and Hamdan University
Job Title: Pilot, First Officer
Number of hours flying in a Boeing 777: 1,200
Number of flights: Approximately 300
Hobbies: Exercising
Nicest destination: Milan, New Zealand, Seattle for shopping
Least nice destination: Kabul, but someone has to do it. It’s not scary but at least you can tick the box that you’ve been
Favourite place to visit: Dubai, there’s no place like home
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
The%20specs
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
Other ways to buy used products in the UAE
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The biog
Name: Dhabia Khalifa AlQubaisi
Age: 23
How she spends spare time: Playing with cats at the clinic and feeding them
Inspiration: My father. He’s a hard working man who has been through a lot to provide us with everything we need
Favourite book: Attitude, emotions and the psychology of cats by Dr Nicholes Dodman
Favourit film: 101 Dalmatians - it remind me of my childhood and began my love of dogs
Word of advice: By being patient, good things will come and by staying positive you’ll have the will to continue to love what you're doing
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5
The%20specs
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