Abu Dhabi - Mubasher: ADQ, International Holding Company (IHC), and Modon Holding entered into a joint venture (JV) to form a dedicated infrastructure platform, Gridora, according to a press release.
Operating under Modon Holding, Gridora will actively drive infrastructure development for private and public-private partnerships. It will accelerate the delivery of key projects across the UAE and globally.
The JV is developed to improve capacity for deployment, streamlining the procurement and implementation of key infrastructure contracts.
Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “By leveraging the collective expertise and resources of ADQ, IHC and Modon Holding, Gridora will become a local, regional, and international champion for infrastructure development and drive a step change in delivering strategic projects.”
Mohamed Hassan Alsuwaidi, Managing Director and Group CEO of ADQ, commented: “As a long-term investor with deep exposure across infrastructure investments, the establishment of Gridora exemplifies our commitment to design and enable transformative development for projects of strategic importance.”
“Our partnership with world-class institutions, such as Modon and IHC, aims to unlock further value through this platform, and it is a reflection of our growing confidence to drive innovation and efficiency built for long-term impact for the emirate and beyond,” Alsuwaidi mentioned.
Bill O'Regan, Group CEO of Modon Holding, indicated: “Gridora will harness Modon Holding’s pioneering capabilities to channel expertise and capital into key projects and build on Abu Dhabi’s proven framework for development of transformative infrastructure.”
