Tadweer transferred to ADQ's portfolio

Tadweer is the sole custodian of waste management for the emirate of Abu Dhabi

Tadweer joins ADQ's prominent energy and utilities portfolio, complementing its efforts in shaping the nation's sustainable future. - File photo

By WAM

Published: Fri 16 Dec 2022, 3:07 PM

ADQ, an Abu Dhabi-based investment and holding company, today announced the addition of Abu Dhabi Waste Management PJSC (Tadweer) to its energy and utilities portfolio.

Tadweer was converted to a public joint-stock company (PJSC), and full share ownership was transferred to ADQ from the Government of Abu Dhabi.

Tadweer joins ADQ's prominent energy and utilities portfolio, complementing its efforts in shaping the nation's sustainable future and building an integrated portfolio of global champions within their diversified clusters.

The transfer further solidifies ADQ's position in supporting the deployment of circular economy principles and drive excellence across its expanding asset portfolio.

Hamad Al Hammadi, Executive Director, Energy & Utilities Portfolio at ADQ, said, "Waste management is a cornerstone of a circular economy which contributes to a more sustainable future for the UAE. Tadweer is a valuable addition to our energy and utilities portfolio, particularly as it plays a vital role in extracting value through recycling and the reuse of waste. It complements our investments across key clusters in the local economy that are already contributing to a sustainable environment. We look forward to supporting Tadweer's future growth and efforts in delivering best-in-class services for Abu Dhabi's community and the region."

Ali Al Dhaheri, Acting Director-General of Tadweer, commented, "Becoming part of ADQ portfolio is a key milestone on our journey to transform Abu Dhabi's approach to waste management. Developing an integrated waste management sector remains fundamentally important to Abu Dhabi and the health and safety of its community. With Abu Dhabi's largest portfolio of energy and utilities investments, ADQ will strengthen our proposition, help us forge new partnerships with its portfolio companies, and achieve our goal of significantly reducing waste in landfills over the next decade."

Tadweer is the sole custodian of waste management for the emirate of Abu Dhabi committed to developing an integrated waste management sector and becoming a leader in extracting value from waste to contribute to national sustainability ambitions.

ADQ's energy and utilities portfolio also includes Abu Dhabi National Energy Company (TAQA), Emirates Nuclear Energy Corporation (ENEC), Emirates Water and Electricity Company (EWEC) and Abu Dhabi Sewerage Services Company (ADSSC).