Skip to content Skip to Search
Skip navigation

Abu Dhabi sets up new company to develop transport systems

By Pramod Kumar
WAM
Abu Dhabi Transport Company will support an integrated transport ecosystem

Abu Dhabi will set up a new company to develop and operate transport systems in its rural and urban areas.

Abu Dhabi Transport Company will develop rail systems and all other related services and operations. It will provide integrated transport services, including the rental of vehicles and buses, the UAE’s state-run WAM news agency reported.

The new company, an affiliate of the Supreme Council for Financial and Economic Affairs, will support the emirate’s integrated transport ecosystem by developing sustainable transport systems.

The council was established in 2020 to oversee the emirate’s economic direction, including investment, petroleum and natural resources.

Last week the council named Sheikh Tahnoun bin Zayed Al Nahyan chairman of Abu Dhabi Investment Authority, as part of a shake-up of the UAE capital’s sovereign wealth funds.

The country’s national security advisor, Sheikh Tahnoun, is the brother of UAE president Sheikh Mohammed bin Zayed Al Nahyan, who took office last May.

Recently, Abu Dhabi’s ADQ and International Holding Company announced plans to create the region’s largest multi-asset class investment manager. 

The new investment manager will manage a portfolio of assets from ADQ’s alternative investments platform, Abu Dhabi Growth Fund and International Holding Company.

Latest articles

A Mitsubishi H3 rocket on the launchpad in Japan. The UAE will use the model in its asteroid belt mission

UAE and Mitsubishi sign agreement for asteroid belt mission

The UAE has signed an agreement with Mitsubishi Heavy Industries to provide services for its 2028 mission to the asteroid belt.  The Emirates Mission to the Asteroid Belt – the first multiple-asteroid tour and landing mission to the main belt that lies between Mars and Jupiter – will launch the Mohammed Bin Rashid Explorer spacecraft […]

Outdoors, Ground, Nature

IMF gives Jordan access to $131m as reforms continue

The International Monetary Fund (IMF) will grant Jordan access to $131 million as the country’s economic reform programme remains strong despite it facing a challenging external environment. The release of the funds remains subject to approval by the IMF’s management and executive board. “Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds […]

Architecture, Building, Factory

Oman public revenue tops $21bn as oil earnings surge

Oman’s public revenue rose to OMR8.1 billion ($21 billion) by the end of August 2024, up 3 percent year on year, thanks to a surge in oil income. Net oil revenue reached OMR4.65 billion ($12 billion), rising 12 percent from OMR4.15 billion ($10.8 billion) a year earlier, the state-run Oman News Agency reported. The average […]

The Forbes Tower is designed by architects Adrian Smith and Gordon Gill with a facade by BMW's Designworks

Egypt’s Forbes Tower has designs on Burj Khalifa records

Egypt’s 50-storey Forbes Tower is a self-consciously Dubai-esque development. It will have the world’s tallest central atrium, the fastest elevator, and is due to be the first net-zero tower in the Middle East and North Africa.  Magnom Properties, the Egyptian-Saudi-owned developer, plans to spend $1 billion building the 240m tall tower, and has embraced comparisons […]