Skip to content Skip to Search
Skip navigation

Abu Dhabi sets up new company to develop transport systems

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

The WakeCap system being used on a construction site

Aramco adopts heat-sensing construction helmets

Saudi Aramco is deploying advanced safety helmets equipped with heat stress sensors to protect workers on some of its construction sites, a critical concern in the Gulf region’s scorching climate. The helmets, developed by Dubai and Saudi Arabia-based construction tech startup WakeCap, utilise internet-of-things (IoT) technology that monitors worker attendance, location, and safety incidents in […]

Wind turbines above the village of Kotronas in the Peloponnese region. Greece's Terna Energy invests in wind, solar, hydroelectric and pumped storage projects

Masdar buys Greece’s biggest investor in renewables

The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […]

KBR Iraq

US firm wins $46m contract to boost Iraq infrastructure 

US engineering giant KBR has won a five-year $46 million contract to support Iraq’s infrastructure development and future energy projects, including mega-projects. The company is expanding its presence in Iraq, establishing a new office in Baghdad and said it is also considering the creation of a design centre to enhance local engineering skills. Under the […]

The UAE attracted FDI inflows of $30.7 billion last year, a 35 percent year-on-year growth

UAE ranks second in global greenfield FDI projects

A 33 percent year-on-year surge in greenfield FDI projects in the UAE catapulted the Emirates up two places to the second spot after the US in 2023. There are now 1,323 greenfield FDI project announcements, state-run Wam news agency reported, citing the World Investment Report 2024. The UAE attracted FDI inflows of $30.7 billion last […]