Financial Daily from THE HINDU group of publications
Wednesday, Apr 26, 2006

Cross Currency

Group Sites

Money & Banking - Financial Institutions
Industry & Economy - Infrastructure

ZonesCorp launches infrastructure fund

Vimala Vasan

Abu Dhabi , April 25

The ZonesCorp Infrastructure Fund — the ZonesCorp Fund, an unlisted infrastructure investment vehicle focused primarily on ZonesCorp projects, has been established in the Abu Dhabi emirate.

Sheikh Hamed Bin Zayed Al Nahyan, Chairman of ZonesCorp, said that it was the first infrastructure fund in Abu Dhabi. The fund will support the future strategic plans in the emirate, he said.

The AED 1-billion, 10-year, closed-end fund will be managed by a joint venture between Abu Dhabi Commercial Bank and the Macquarie Bank Group — ADCB Macquarie. ZonesCorp will provide 75 per cent of the equity with ADCB Macquarie providing the rest.

ZonesCorp is an independent government authority established in 2004 for the promotion of investment in the economic sector of the Abu Dhabi emirate.

Mr Norm Johnston, the CEO of ZonesCorp, said, "There is a strong pipeline of potential assets identified, including the Industrial City of Abu Dhabi (ICAD) Phase II and the Industrial City of Al Ain.

More Stories on : Financial Institutions | Infrastructure

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Not the road to Shangri-la

Rupee dips on dollar buying
No new shares for GTB shareholders
Indiabulls Q4 net at Rs 80 cr
SEBI to issue rules soon for unified bonds exchange
ZonesCorp launches infrastructure fund
G-sec auctions fully subscribed
Marginal rise in bond prices
South Indian Bank recovers Rs 161-cr NPAs
Call rates remain stable
KfW to grow India portfolio to 3 b euros

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line