VOL. XL

No. 5

3-February-1997

UAE

GIAT And Local Partners Establish Offset Venture In Abu Dhabi

The UAE Offset Group and France's GIAT Industries on 27 Januaryannounced the formal establishment of a new shipping venture based in Abu Dhabi - CombinedCargo UAE. The venture, which has an initial capital of $15mn, is owned 25% by the AbuDhabi Investment Company, 25% by GIAT, 24% by the Norwegian shipping firm, TorvaldKlaveness Group, 15% by Oman and Emirates Investment Holding Company (a joint...