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APICORP: Show Interest in Funding Renewable Energy Projects in the UAE

Chief Executive Director General of the Arab Company for Petroleum Investments APICORP, Ahmed Al-Naimi, the company will contribute to financing projects in new and renewable energy that are performed in the UAE, and in Abu Dhabi in particular.

He said that APICORP representatives will visit Abu Dhabi soon, to study a number of projects in renewable energy, and determine the size of contributions to the Company, expected at the end of the meeting of the Board of Directors of APICORP in the Syrian capital Damascus yesterday, to encourage the Arab oil countries to re-launch a large number of energy projects for implementation, after being postponed due to the global financial crisis.

Ahmed Al-Naimi added that the board agreed to finance a project to establish an aluminum manufacturing plant for Ma’aden Arabia, which will cost a total of about 500 million dollars, contribute to (APICORP) in the amount of 75 million dollars.

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