Gridora, a United Arab Emirates (UAE)-based infrastructure platform, has signed its first memorandum of understanding (MOU) with the Abu Dhabi Projects and Infrastructure Centre (ADPIC), which manages capital projects under the government’s administration.
This agreement is seen as a significant step in Gridora’s mission to lead the delivery of strategic infrastructure projects in the emirate of Abu Dhabi, UAE.
Under the agreement, Gridora and ADPIC will set up a framework for potential collaboration on the development, planning, and implementation of infrastructure projects.
The initial focus will be on creating a working committee to explore opportunities and identify pilot projects that Gridora could undertake.
ADPIC, meanwhile, has been tasked with implementing projects with an approximate value of at least Dh35bn ($9.53bn). The MOU will consider several projects that ADPIC aims to deliver within the emirate.
Gridora chair Jassem Mohamed Bu Ataba Al Zaabi said: “Gridora’s expertise and resources will deliver world-class infrastructure, empowering the nation’s ambitious economic and population growth goals. Our MOU with ADPIC reflects our shared commitment to accelerate the implementation of critical transport infrastructure, combining innovation, scale and vision.
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By GlobalData“The delivery of these high-impact infrastructure projects will be transformative to Abu Dhabi, and we look forward to working closely as a trusted infrastructure partner to ADPIC.”
Gridora, launched via a partnership between ADQ, IHC, and Modon Holding, is stated to be positioned to collaborate with specialist partners and capital providers.
The platform adopts a dual-focus business model that spans infrastructure projects and investments.
This MOU with ADPIC is the first in a series of scheduled engagements for Gridora.
Modon Holding group CEO Bill O’Regan said: “With this MOU, we can unlock Gridora’s capability to deliver critical infrastructure, ensuring the long-term growth of the recently announced infrastructure platform.
“We look forward to seeing Gridora move forward with purpose, enabling world-class cities with cutting-edge infrastructure.”
