Abu Dhabi: A Abu Dhabi company is set to make a huge investment in the Adani Group. Abu Dhabi-based International Holding Company (IHC) is investing 7.3 billion dirhams (Rs 14,000 crore) in the IHC Adani Group. IHC is owned by Adani Green Energy (AGEL), Adani Transmission (ATL) and Adani Enterprises (AEL). Buying. The move comes after the India-UAE Economic Partnership Agreement (CEPA) was signed by the CEPA.

The investment will be used for the expansion of companies. Investments are in areas such as sustainable development, infrastructure, green energy and energy transfer. Adani Group is the second largest investor by IHC this year. IHC had earlier acquired a 70 per cent stake in Arena Events Group. The company spent 239.8 million dirhams on the project.

Earlier, the Adani Group had also invested in Abu Dhabi. Dh183 crore will be invested in AGEL, Dh183 crore in ATL and Dh667 crore in AEL. It is learned that the transaction will be completed within a month after all the approvals are received. In 2020, Mubadala, a UAE-based company, had invested $ 1.20 billion in Indian telecommunications. Reliance and Abu Dhabi Chemical Derivatives recently announced a $ 2 billion joint venture in Ruwais.

The partnership agreement was signed two months ago with the aim of bringing India-UAE trade to $ 100 billion within five years. As part of this, measures including waiver of import duty from India will come into effect soon.

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