Middle East Economic Survey
$1.1Bn Abu Dhabi Energy/Utilities Firm Established
A decree issued by UAE President Shaikh Khalifa bin Zayid Al Nuhayyan on 21 June ordered the establishment of Abu Dhabi Energy Company (Taqa), a joint stock company capitalized at Dh4.1bnm ($1.1bn), with a nominal value of Dh1 per share. The Abu Dhabi Water and Electricity Authority (ADWEA) has been assigned the task of establishing Taqa. ADWEA is also required to meet 90%...