2030 Strategy Growth Accelerated by ADNOC
The Abu Dhabi National Oil Company, ADNOC is accelerating the accomplishment of the goals set up according to the 2030 strategy by using the capital in smarter way. Minister of State and ADNOC Group CEO, Dr. Sultan bin Ahmad Sultan Al Jaber said this at Abu Dhabi on Tuesday. At the Global Financial Markets Forum, Dr. Al Jaber said smarter strategies are being looked for by ADNOC which will accelerate the growth of the financial markets. To this he added managing the capital and assets to proactive the financial market is another challenge for ADNOC.
Dr. Al Jaber said the engagement between the financial markets and ADNOC will set a new example of strategic partnership model. ADNOC will further continue to appreciate its East-West partners. But the main approach of ADNOC will be based on relationships that are strategic and those which deliver growth in smart capital, opportunities and market access.
A $3 billion bond has been issued by ADNOC which is being supported by Abu Dhabi Crude Oil Pipeline. By a domestic and international ambitious investment strategy ADNOC is aimed to become a leading player in the global downstream investment according to its next 5 years plan, said Dr. Al Jaber. New investment and opportunities would open up to investors due to ADNOC’s downstream expansion. Thus ADNOC is inviting the new financial community of investors to be a part of their growth journey.
Dr. Al Jaber said in the investment strategy there is going to be a mix of debt investment and equity opportunities as well as fixed income, brownfield and greenfield projects and project and structured finance. He confirmed that ADNOC is in to collaborate with various other potential partners who will offer newest technology, skill and expertise and help in the growth of the company and expansion strategy.
ADNOC’s CEO said that the company is taking steps to improve the economy of UAE and its structure. The main aim of the company will be to create job opportunities, expand the involvement of the domestic sector and also improve the competitiveness of the private sector.