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Gridora will be structured around two complementary business lines, Infrastructure Projects and Infrastructure Investments. Image courtesy: WAM
Abu Dhabi’s state-owned ADQ has formed a joint venture with International Holding Company (IHC) and Modon Holding to set up an infrastructure platform for large-scale, high-impact developments.
Called Gridora, the new entity operating under Modon Holding will coordinate with specialist partners and capital providers to fast-track the delivery of major projects across the UAE and globally, as well as boost returns.
Gridora will be structured around two complementary business lines, Infrastructure Projects and Infrastructure Investments. Its role spans from early-stage planning through to operations, and also includes finding ways to generate fee-based revenues and long-term investment yields.
“Gridora will become a local, regional and international champion for infrastructure development and drive a step change in delivering strategic projects,” said Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding.
“The establishment of Gridora exemplifies our commitment to design and enable transformative development for projects of strategic importance,” said Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ.
(Writing by Cleofe Maceda; editing by Seban Scaria)
