Latest news with #SultanAlJaber
The National
an hour ago
- Business
- The National
Abu Dhabi's XRG targets LNG and gas capacity of up to 25m tonnes a year by 2035
Adnoc's global energy investment arm XRG aims to have a gas and LNG business with capacity of between 20 to 25 million tonnes per annum by 2035 as it looks to scale up its operations globally. XRG's board, which includes Adnoc group managing director and chief executive Dr Sultan Al Jaber, former BP chief executive Bernard Looney and Blackstone's Jon Gray, approved a five-year business plan for the company on Monday. 'XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand,' Dr Al Jaber, who is also the executive chairman of XRG, said. 'We are scaling platforms in gas, chemicals and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.' XRG was launched last year as an international lower-carbon energy and chemicals investment company, with an enterprise value exceeding $80 billion. In December, President Sheikh Mohamed endorsed the appointment of the board of directors for the new unit. Other members of the board include Mohamed Alsuwaidi, UAE Minister of Investment and managing director and chief executive of Abu Dhabi's holding company ADQ, and Nassef Sawiris, the executive chair of OCI Global. The board 'supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position", the statement said. Last month, the UAE made an announcement to increase the value of its investments in the US energy sector to $440 billion by 2035, from the current $70 billion, during US President Donald Trump's visit to the Gulf countries. That is part of the UAE's plan to invest $1.4 trillion in the country. XRG bought a stake in NextDecade's Rio Grande liquefied natural gas export facility in Texas last year along with other acquisitions in Mozambique and Turkmenistan. The board also endorsed the 'company's ambition to create a top-three global chemicals platform", the statement said. 'Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry-leading portfolio across polyolefins, performance materials, and future speciality segments.' In December, XRG announced the acquisition of the German chemicals company Covestro for an enterprise value of €14.7 billion ($15.3 billion). In March, Adnoc also agreed to terms of a binding agreement with Austria's OMV to merge their polyolefins business and create a $60 billion Borouge Group International. The board also directed XRG through its Energy Solutions platform to expand its investments across the energy value chain "while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles". That comes amid growth in AI-linked power demand, particularly in the US, the statement added.
The National
5 hours ago
- Business
- The National
Abu Dhabi's XRG targets LNG and gas capacity of up to 25m tonnes per annum by 2035
Adnoc's global energy investment arm XRG aims to have a gas and LNG business with capacity of between 20 to 25 million tonnes per annum by 2035 as it looks to scale up its operations globally. XRG's board, which includes Adnoc group managing director and chief executive Dr Sultan Al Jaber, former BP chief executive Bernard Looney and Blackstone's Jon Gray, approved a five-year business plan for the company on Monday. 'XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand,' Dr Al Jaber, who is also the executive chairman of XRG, said. 'We are scaling platforms in gas, chemicals and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.' XRG was launched last year as an international lower-carbon energy and chemicals investment company, with an enterprise value exceeding $80 billion. In December, President Sheikh Mohamed endorsed the appointment of the board of directors for the new unit. Other members of the board include Mohamed Alsuwaidi, UAE Minister of Investment and managing director and chief executive of Abu Dhabi's holding company ADQ, and Nassef Sawiris, the executive chair of OCI Global. The board 'supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position", the statement said. Last month, the UAE made an announcement to increase the value of its investments in the US energy sector to $440 billion by 2035, from the current $70 billion, during US President Donald Trump's visit to the Gulf countries. That is part of the UAE's plan to invest $1.4 trillion in the country. XRG bought a stake in NextDecade's Rio Grande liquefied natural gas export facility in Texas last year along with other acquisitions in Mozambique and Turkmenistan. The board also endorsed the 'company's ambition to create a top-three global chemicals platform", the statement said. 'Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry-leading portfolio across polyolefins, performance materials, and future speciality segments.' In December, XRG announced the acquisition of the German chemicals company Covestro for an enterprise value of €14.7 billion ($15.3 billion). In March, Adnoc also agreed to terms of a binding agreement with Austria's OMV to merge their polyolefins business and create a $60 billion Borouge Group International. The board also directed XRG through its Energy Solutions platform to expand its investments across the energy value chain "while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles". That comes amid growth in AI-linked power demand, particularly in the US, the statement added.
Zawya
7 hours ago
- Business
- Zawya
XRG Board endorses five-year plan to accelerate global growth, deliver long-term value
The Board of Directors of XRG, the international energy investment platform launched by ADNOC in November 2024, today endorsed the company's five-year business plan for 2025–2030, reaffirming its commitment to accelerated growth and long-term value creation. In its first six months, XRG has established itself as a differentiated global energy investor with an enterprise value exceeding $80 billion. The Board endorsed the plan to scale XRG's three core platforms – International Gas, Global Chemicals, and Energy Solutions. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, and ADNOC Managing Director and Group CEO, Executive Chairman of XRG, said, 'As we enter a new era shaped by artificial intelligence, digital infrastructure, and industrial growth, energy systems must evolve in both scale and sophistication. XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand. With the Board's endorsement of our five-year business plan, we are scaling platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.' The Board directed XRG to build a top five integrated global gas and liquefied natural gas (LNG) business, targeting 20–25 million tons per annum of capacity by 2035 and supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position. This follows recent acquisitions and partnerships in the United States (Rio Grande LNG), Mozambique (Area 4 Rovuma Basin), Egypt (Arcius Energy), Azerbaijan (Absheron), and Turkmenistan (Offshore Block I), enabling XRG to meet rising global demand for flexible, lower-carbon energy. The Board also endorsed the company's ambition to create a top three global chemicals platform. Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry leading portfolio across polyolefins, performance materials, and future specialty segments. Recognising the exponential growth in AI-linked power demand, particularly in the United States, the Board directed XRG through its Energy Solutions platform to expand its investments across the energy value chain while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles. XRG will execute on its 2025–2030 business plan immediately, with continued focus on disciplined capital deployment, platform integration, and value chain expansion to support global industrial growth and the ongoing digital transformation.
Gulf Today
23-05-2025
- Business
- Gulf Today
‘Make it in the Emirates' ends with over Dhs11b new projects
The fourth edition of Make it in the Emirates, the UAE's premier industrial platform, concluded on Thursday at the Abu Dhabi National Exhibition Centre after a four-day run. This year's edition announced new industrial projects valued at Dhs11 billion. Held under the theme 'Advanced Industries. Accelerated', the event was hosted by the Ministry of Industry and Advanced Technology (MoIAT), organised by Abu Dhabi National Exhibitions Company Group, and held alongside strategic partners the Ministry of Culture, Abu Dhabi Investment Office, and Adnoc. The event drew broad participation from local and international stakeholders and featured innovative showcases by leading industrial and technology companies and pioneering innovators. Spanning 68,000 square meters of exhibition space, this year's edition was the most expansive and comprehensive. It attracted over 122,000 visitors and participants — more than 20 times the number of attendees at the third edition. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said: 'Thanks to our leadership's vision, guidance, and support, the UAE's industrial sector is experiencing a true transformation with a wide-reaching impact across various sectors, particularly trade and the economy. The fourth edition of Make it in the Emirates achieved unprecedented success owing to the support and patronage of esteemed leaders who visited the platform, toured the exhibition, and directed us to continue advancing this vital sector, given its significant role in economic diversification and achieving our national sustainable development goals. 'The world is now witnessing the dawn of a new industrial era — one led by ideas, accelerated by technology, and shaped by agility and adaptability to evolving changes. Industry is vital in creating added economic value, improving productivity, generating employment opportunities, building advanced and resilient infrastructure, developing an export-oriented production base, and boosting GDP. Countries with a strong industrial foundation enjoy sustainable economic growth, ensure a prosperous and bright future, and contribute meaningfully to the advancement of societies. Investing in manufacturing is investing in an advanced economy. Every investment in this sector creates a multiplier effect by stimulating the growth of related sectors. Therefore, the Make it in the Emirates platform is a gateway to strengthening our industrial sector. We are committed to developing this platform further, expanding its impact, and increasing its contribution to attracting major industrial companies, localizing strategic products, and building a competitive, knowledge-based industrial base — all of which reinforce the UAE's position as a global partner in shaping the future of industry. 'Guided by our leadership's foresight and strategic vision, the UAE has successfully established a pioneering model translate plans and programs into tangible outcomes, recognized by both local and global leaders and reflected in international reports. This makes us proud of the industrial sector's role in realizing the goals of We the UAE 2031 and the UAE Centennial 2071,' Dr Al Jaber added. 'Today, we celebrate the outcomes of the fourth edition in collaboration and coordination with all government entities, private sector companies, financial institutions, partners, and sponsors. The figures and results achieved — in terms of visitor numbers, participants, signed agreements, announced investments, and launched initiatives — are clear indication of the strong momentum in the UAE's national industrial journey and the growing confidence of local and international partners in the country's investment and industrial ecosystem. 'The platform underscores the importance of accelerating the shift toward smart manufacturing, leveraging Industry 4.0 technologies and artificial intelligence (AI), empowering national talent, and creating new opportunities for Emirati youth and entrepreneurs to play an active role in shaping the future of the industrial sector and the national economy. In light of the significant success of this edition, we have already begun preparations for the fifth edition in May 2026, which will mark yet another milestone for the UAE's industry and advanced technology sector,' said Dr Al Jaber. The minister also renewed his call for investors, industrialists, and innovators from the UAE and abroad to participate in Make it in the Emirates and leverage the country's unparalleled competitive advantages and investment opportunities across the industrial landscape. These advantages stem from the country's strong reputation, credibility, and reliability — attributes that support business growth, enable expansion, and provide access to global markets and over 3 billion consumers. Humaid Al Dhaheri, Managing Director and Group CEO of Abu Dhabi National Exhibitions Company Group, said: 'The successful conclusion of this year's edition of Make it in the Emirates reflects Abu Dhabi National Exhibitions Company Group's commitment to delivering world-class platforms that drive strategic dialogue, foster partnerships and unlock investment opportunities.' WAM
Al Etihad
23-05-2025
- Business
- Al Etihad
'Make it in the Emirates' concludes with new industrial projects valued over Dh11 billion
23 May 2025 08:20 ABU DHABI (WAM) The fourth edition of Make it in the Emirates, the UAE's premier industrial platform, concluded on Thursday at the Abu Dhabi National Exhibition Centre after a four-day run. Held under the theme 'Advanced Industries. Accelerated', the event was hosted by the Ministry of Industry and Advanced Technology (MoIAT), organized by Abu Dhabi National Exhibitions Company Group , and held alongside strategic partners the Ministry of Culture, Abu Dhabi Investment Office, and event drew broad participation from local and international stakeholders and featured innovative showcases by leading industrial and technology companies and pioneering 68,000 square meters of exhibition space, this year's edition was the most expansive and comprehensive. It attracted over 122,000 visitors and participants — more than 20 times the number of attendees at the third Sultan Al Jaber, Minister of Industry and Advanced Technology, said: 'Thanks to our leadership's vision, guidance, and support, the UAE's industrial sector is experiencing a true transformation with a wide-reaching impact across various sectors, particularly trade and the economy. The fourth edition of Make it in the Emirates achieved unprecedented success owing to the support and patronage of esteemed leaders who visited the platform, toured the exhibition, and directed us to continue advancing this vital sector, given its significant role in economic diversification and achieving our national sustainable development goals.'The world is now witnessing the dawn of a new industrial era — one led by ideas, accelerated by technology, and shaped by agility and adaptability to evolving changes. Industry is vital in creating added economic value, improving productivity, generating employment opportunities, building advanced and resilient infrastructure, developing an export-oriented production base, and boosting GDP. Countries with a strong industrial foundation enjoy sustainable economic growth, ensure a prosperous and bright future, and contribute meaningfully to the advancement of societies."Investing in manufacturing is investing in an advanced economy. Every investment in this sector creates a multiplier effect by stimulating the growth of related sectors. Therefore, the Make it in the Emirates platform is a gateway to strengthening our industrial sector. "We are committed to developing this platform further, expanding its impact, and increasing its contribution to attracting major industrial companies, localizing strategic products, and building a competitive, knowledge-based industrial base — all of which reinforce the UAE's position as a global partner in shaping the future of industry." "Guided by our leadership's foresight and strategic vision, the UAE has successfully established a pioneering model translate plans and programs into tangible outcomes, recognized by both local and global leaders and reflected in international reports. This makes us proud of the industrial sector's role in realizing the goals of We the UAE 2031 and the UAE Centennial 2071,' HE Dr. Al Jaber added."Today, we celebrate the outcomes of the fourth edition in collaboration and coordination with all government entities, private sector companies, financial institutions, partners, and sponsors. The figures and results achieved — in terms of visitor numbers, participants, signed agreements, announced investments, and launched initiatives — are clear indication of the strong momentum in the UAE's national industrial journey and the growing confidence of local and international partners in the country's investment and industrial ecosystem.'The platform underscores the importance of accelerating the shift toward smart manufacturing, leveraging Industry 4.0 technologies and artificial intelligence (AI), empowering national talent, and creating new opportunities for Emirati youth and entrepreneurs to play an active role in shaping the future of the industrial sector and the national economy. In light of the significant success of this edition, we have already begun preparations for the fifth edition in May 2026, which will mark yet another milestone for the UAE's industry and advanced technology sector,' Said Dr. Al minister also renewed his call for investors, industrialists, and innovators from the UAE and abroad to participate in Make it in the Emirates and leverage the country's unparalleled competitive advantages and investment opportunities across the industrial landscape. These advantages stem from the country's strong reputation, credibility, and reliability — attributes that support business growth, enable expansion, and provide access to global markets and over 3 billion Al Dhaheri, Managing Director and Group CEO of Abu Dhabi National Exhibitions Company Group, said: 'The successful conclusion of this year's edition of Make it in the Emirates reflects Abu Dhabi National Exhibitions Company Group's commitment to delivering world-class platforms that drive strategic dialogue, foster partnerships and unlock investment opportunities. Organizing the event at Abu Dhabi National Exhibitions Centre for the first time enabled us to scale its impact, with record participation from exhibitors and investors and a significant uplift in signed industrial commitments. We proudly support the UAE's industrial ambitions by providing an environment that empowers businesses, accelerates innovation, and contributes to national economic growth.'As a core pillar of the National Strategy for Industry and Advanced Technology, Make it in the Emirates featured a dedicated theme for each of its four days, reflecting the platform's strategic expansion and depth. Day 1 under the theme 'The UAE's Vision – Shaping the Future of Manufacturing' hosted 34 main and panel sessions featuring ministers and senior local and international officials. Under the theme 'National Value Creation and Emirati Talent', Day 2 featured 26 sessions with National In-Country Value (ICV) Program pioneers and industrial leaders. Day 3, under the theme 'Smart Manufacturing – Industry 4.0 & AI', included more than 35 sessions led by technology leaders and innovators. Under the theme 'Youth, Export, Growth, and Future Industries', Day 4 hosted 17 sessions with young leaders and trailblazers in emerging industries. Strategic Agreements More than 187 agreements and MoUs were signed during the event. They focused on localizing supply chains, transferring technological know-how, vocational training, and Emirati employment — reinforcing the UAE's commitment to achieving self-sufficiency in priority sectors. Additionally, new offtake agreements worth Dh7.8 billion were signed during the alone signed 24 MoUs and cooperation agreements with government entities and private sector entities. These agreements reflect a shared commitment to enhancing regulatory cooperation and creating a competitive industrial environment, especially with leading global manufacturers operating in the UAE. Strategic Projects Over its four editions, Make it in the Emirates has firmly established the UAE as a global hub for industrial innovation and excellence. The event highlighted investment opportunities enabled by the UAE's competitive advantages and incentives, which continue to attract capital across priority year's edition announced new industrial projects valued at Dh11 than 720 local and international industrial, technological, financial, and service institutions participated in the exhibition, showcasing the latest solutions to support industrial growth and enhance the sector's GDP contribution. Exhibitors also presented breakthrough technologies aimed at advancing industrial and technological capabilities. The exhibition spanned 12 strategic industrial sectors: Food, Beverage & Agritech; Pharmaceuticals & Medical Tech; Ship & Maritime Manufacturing; Metals & Fabrication; Handicrafts; Advanced Manufacturing & AI; Chemicals, Plastics & Sustainable Materials; Hydrogen & Clean Energy; Electric Equipment & Electronics; Machinery & Equipment; Construction & Materials; and Aerospace, Automotive & Defense industries. Impactful Financing Solutions During the fourth edition of Make it in the Emirates, the MoIAT signed a landmark agreement with national banks to provide over Dh40 billion in competitive financing over five years. This initiative will support small, medium, and emerging enterprises and innovative projects that strengthen the industrial sector and enhance the competitiveness of locally manufactured Emirates Development Bank launched the Emirates Growth Fund — an Dh1 billion investment platform supporting SMEs in strategic sectors such as manufacturing, healthcare, food security, and advanced opening day, MoIAT recognized the winners of the third Make it in the Emirates Awards. This year's nine award categories spanned five pillars: Factory of the Future, In-Country Value, Industry Enablers and Strategic Partners, Leadership and Talent, and UAE Traditional Crafts for Individual and Companies. For the first time, an Emirati Handicrafts Award was introduced to honor individuals and companies in this ministry also marked National ICV Day by celebrating the contributions of companies and individuals supporting the National In-Country Value Program, recognizing their role in driving local competitiveness, productivity, and supply chain of the third Make it in the Emirates Startup Pitch Competition were also honoured. The competition received more than 200 applications from over 30 countries, with 43% submitted by international startups — a testament to the growing interest both locally and the first time, the platform featured a dedicated pavilion for Emirati crafts and heritage industries, organized by the Ministry of Culture as part of the Year of the pavilion hosted live demonstrations of 40 traditional crafts across 10 zones, with participation from 216 Emirati artisans. Their involvement this year enabled them to expand their presence on e-commerce platforms and bring their products to global markets — turning heritage into economic opportunity. National In-Country Value (ICV) ProgrammeThe 2025 edition recorded a rise in industrial procurement under the National ICV Program, reaching Dh168 billion — up from Dh143 billion in the previous edition. The program now covers 4,800 locally manufacturable products. This year, new procurement agreements worth Dh1.3 billion were Day 2, MoIAT signed MoUs with entities including Emaar, Silal, Calidus, and Modon Holding to join the National ICV Program. This brings the total number of participating companies and entities to under the UAE's Projects of the 50, the program channels procurement by government and major national companies into the local economy, stimulating industrial and service sectors. By the end of 2024, cumulative local spending under the program reached Dh347 the sidelines of the event, the ministry launched the Global Startup Exchange Program, connecting UAE and international startups to new markets, incubators, and investors. The first pilot, developed in collaboration with Japan, sets the stage for broader international expansion — opening new pathways for growth-stage, technology-focused reaffirmed its support for the platform through an ambitious five-year plan to channel up to Dh200 billion into the national economy. This includes purchasing locally manufacturable products valued at up to Dh90 billion by 2030 — further strengthening the UAE's industrial base and reinforcing supply chain 'Industrialists' Career Fair, jointly organized by MoIAT, the Ministry of Human Resources and Emiratization, and the Nafis Program, took place over three days. It aimed to expand private sector opportunities for Emiratis and highlight career paths within the industrial than 3,000 young Emiratis attended the fair, participating in over 10,000 on-the-spot interviews — including AI-assisted screening — with more than 95 companies. These companies offered 1,200 job opportunities alongside extensive training and upskilling and the Abu Dhabi Investment Office also announced a strategic partnership to support the Industrialists Program, intending to deepen Emirati participation in the industrial to the National ICV Program, the industrial sector created over 22,000 jobs for UAE nationals by the end of 2024. The Industrialists Career Fair alone helped place 2,500 Emiratis in private sector Emiratis actively participated throughout the fourth edition of Make it in the Emirates, presenting breakthrough ideas, SME projects, and AI-powered technologies to support industrial transformation. Youth-led exhibitions highlighted the intersection of entrepreneurship, national development, and smart event also saw the announcement of Made in the Arab World – UAE Edition, part of the seventh cycle of the Youth Solutions initiative by the Arab Youth Center. The initiative promotes youth-led industrial startups, scalable innovation, and sustainable development across the Arab the platform, young entrepreneurs shared experiences and advice — inspiring the next generation of industrial leaders and building momentum for the UAE's startup ecosystem. Success Partners A wide range of partners supported this year's edition:-Investment Partners: IHC, Mubadala-Sector Enabling Partner: Tawazun Council-Enablement Partners: Abu Dhabi Commercial Bank, Abu Dhabi Exports Office, Emirates Development Bank, KEZAD Group, NMDC Group-Sector Partners: EDGE, EMSTEEL, Emirates Global Aluminium (EGA), Silal, Agthia, Al Dahra-Associate Sponsors: Arab Basalt Fiber Company, RAK Ceramics, Etihad Credit Insurance, e7 Group, Envision, NEOX-Financing Sponsor: First Abu Dhabi Bank (FAB)-Industrial Partner: Airbus-In-Country Value (ICV) Champion: Baker Hughes-AI Zone Sponsor: Technology Innovation Institute (TII)-Supporting Sponsors for Start-Up Competition: Yokogawa, HUB71-Entrepreneurship Content Partner: Stratecis-Knowledge Partners: Roland Berger, Oliver Wyman, Emirates Center for StrategicStudies and Research (ECSSR), Trends Research & Advisory-Lanyard Sponsor: Pipetec-Outreach Partner: Mexican Business Council in UAEThe fourth edition of Make it in the Emirates built on the achievements of previous years, advancing the goals of the National Strategy for Industry and Advanced Technology. It strengthened the UAE's position in strategic and future industries, enhanced the competitiveness of Emirati products, and created an enabling environment for investment and technology 2025 edition delivered record-breaking satisfaction levels — well above global benchmarks:-Exhibitor satisfaction: 4.05 (global avg: 3.80)-Perceived importance: 4.28 (global avg: 3.89)-Intent to return: 4.36 (global avg: 4.01)-Net Promoter Score (NPS): +51 (global avg: +9) Among visitors: Make it in the Emirates Continue full coverage -Satisfaction: 4.25 (global avg: 4.02) -Perceived importance: 4.06 (global avg: 3.87) -Intent to return: 4.37 (global avg: 4.00)--NPS: +54 (global avg: +30)This edition attracted 2,823 media professionals and journalists, reflecting the platform's growing visibility and international significance. Broadcasters, news agencies, and industry media covered the event extensively, amplifying the UAE's industrial ambitions and showcasing its role in shaping the future of global and Abu Dhabi National Exhibitions Company Group announced that the fifth edition of Make it in the Emirates will be held from 4-7 May 2026. Notably, 80% of companies participating this year expressed their intention to return. With planning already underway, the fifth edition is set to build on this year's momentum — reinforcing the UAE's role as a global destination for industrial growth, investment, and opportunity.
