UAE-based the International Petroleum Investment Company (IPIC) told the media on Friday that the company is going to announce several investment opportunities. Now it is revising its investment plans.
IPIC was established in the year 1984 and it is completely owned by the Government of the Emirate of Abu Dhabi. However, it is operated by an independent Board of Directors. H.H. Sheikh Mansour Bin Zayed Al Nahyan has charged on Chairman of IPIC since 1994. Al Nahyan is personally directing the company’s progress towards the realization that to develop and boost Abu Dhabi’s presence in worldwide.
After a general meeting of the Board of Directors headed by Shaikh Mansour Bin Zayed Al Nahyan, Chairman of IPIC, Deputy Prime Minister (DPM) and Minister of Presidential Affairs (MPA); the company said that the meeting discussed IPIC ‘s performance through the first quarter of 2009 and reviewed several reports on different projects.
Additionally, they discussed on some investment opportunities and the opportunities will soon be announced. The company recently invested an additional $1.41 billion (nearly Dh5.17b) in the Aabar Investment PJSC. The pumped was to give the country a bulk control in the investment firm set over Daimler AG’s major shareholder.