The UAE made the investment commitment after President Trump hosted National Security Advisor Sheikh Tahnoun bin Zayed and the heads of major UAE sovereign wealth funds and corporations in the Oval Office earlier this week.
As part of the project, the UAE investment fund ADQ and its American partner Energy Capital Partners announced the allocation of $25 billion for investments in energy infrastructure and data centers.
Energy investment firm XRG, owned by state-owned Abu Dhabi National Oil Co. (ADNOC), also announced its commitment to supporting natural gas production and exports to the United States, as well as “additional plans to make significant investments in U.S. assets in gas, chemicals, energy infrastructure and low-carbon solutions.”
Emirates Global Aluminum plans to invest in a new aluminum plant in the United States, which the White House says will nearly double domestic aluminum production in the United States.
Source: Reuters
