AMIF reveals $188m UAE infrastructure investment

INFRASTRUCTURE FUNDING: AMIF announces a $188 million investment in projects commissioned by the Abu Dhabi government. (Getty Images)

The ADCB Macquarie Infrastructure Fund (AMIF) on Monday announced a $188 million investment that will give it exposure to government-commissioned infrastructure projects in the UAE.

The investment aims to support industrial infrastructure developments commissioned by ZonesCorp, an independent government authority owned by the Abu Dhabi Government.

“This is a significant investment in the development of world-class infrastructure for industrial zones, such as road and irrigation networks, sewerage utilities and electricity transmission and distribution networks,” said Jasim Al Darmaki, spokesperson for the joint venture between Abu Dhabi Commercial Bank and Australia's Macquarie Group, which manages AMIF.

AMIF intends to provide capital for investments across the GCC for a range of infrastructure sectors, and expects to raise up to $1 billion for this purpose through domestic and international investors.

“AMIF is a great example of the private sector model helping to meet our region’s unparalleled demand for basic infrastructure, which is being driven by a relentlessly increasing population, economic expansion and diversification,” said Al Darmaki.

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