ADFD signs agreements worth Dhs367 million with Turkmenistan

SourceGulf Today
SectorOil & Gas
CountryUAE

Abu Dhabi Fund for Development (ADFD) on Thursday signed two agreements worth Dhs367 million with the Government of Turkmenistan. The first agreement includes the allocation of Dhs275 million ($75 million) towards the construction of an airport in Jebel in Balkan Region, whereas the second agreement aims to finance the development of a 10 megawatts hybrid power plant at a cost of Dhs92 million ($25 million). The two agreements were signed by Mohammed Saif Al Suwaidi, Director General of ADFD, and Jepbarov Rahimberdi Jepbarovich, Chairman of the State Bank for Foreign Economic Affairs of Turkmenistan.

The signing ceremony also drew the participation of Suhail Bin Mohammed Al Mazrouei, the UAE Minister of Energy and Infrastructure, Berdimuhamedov Serdar Gurbangulyevich, Deputy Chairman of the Cabinet of the Ministers of Turkmenistan, Garajayev Saparmammedovich, Ambassador of Turkmenistan to the UAE, Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD, and several senior officials from both sides. Commenting on the agreements, Mohammed Al Suwaidi said:...read more...