Earlier, the Emergency, Crisis and Disaster Management confirmed the reopening of all roads in the emirate
The company, which also got a new corporate identity ‘Senaat’, is an industrial arm of Abu Dhabi government with diversified portfolio ranging from food processing and distribution to petroleum construction and steel and cable making to manufacturing ofconstruction materials.
Revenues for the first half ending June 30, reached Dh6.4 billion, showing a 12 per cent rise on the Dh5.7 billion recorded for the same period in 2011.
At the end of June, total assets under Senate’s management reached Dh25.4 billion, up seven per cent compared to its total value by the end of 2011.
Husain Jaime Al Nowise, Chairman of Senate said: “As we once again demonstrate significant progress in our efforts to expand the capabilities of Abu Dhabi’s industrial sector, our new corporate identity ‘Senate’ reflects the company’s vision as we enter the next stage of our journey.”
“Senaat has developed investment plans and strategies for the future that will ensure it continues to contribute to the diversification of Abu Dhabi’s economic base, boosting the non-oil industries,” Al Nowais added.
“Senaat has successfully improved its financial position and increased its total assets, maintaining its key role in the support and expansion of the Emirate’s industrial sector, in line with Abu Dhabi Economic Vision 2030.”
Al Nowais also highlighted the growth of the company’s portfolio with total industrial investments of Dh1.5 billion in the first half of this year.
With a strong financial position and strong cash flow, Senaat will continue its policy of self-funding its industrial investments and the maintenance of a balanced leverage policy,” he said.
SuhailMubarak Al Ameri, chief executive officer of Senaat, said the company was a key contributor to Abu Dhabi’s Economic Vision 2030 to develop basic and downstream industries.
“The name Senaat is clearly in line with the mandate to promote industrial activities in Abu Dhabi and diversify the economy away from the hydrocarbon sector, Al Ameri said. He also highlighted that the company has made total industrial investments of Dh13 billion since 2004.
Senaat owns a portfolio of industrial assets including Emirates Steel, National Petroleum Construction Company (NPCC), Ducab, Arkan, Agthia, Al Foah Dates Processing Company, and aluminium extrusion producer Talex.
Earlier, the Emergency, Crisis and Disaster Management confirmed the reopening of all roads in the emirate
His case was considered a milestone for #MeToo, in which women accused hundreds in entertainment, media, politics and other fields of sexual misconduct
Well-known communication expert Maha Abouelenein on what it takes to thrive in the age of social media
From cultural events, and culinary delights to outdoor adventures, here's a line-up of thrilling activities to make your weekend exciting
'The rom-com garnered $219 million worldwide after its premiere in December
The guitar will be auctioned on May 29 at the Hard Rock Cafe in New York
Fitness enthusiast Sarah Lindsay shares insights on what it takes to embark on a fitness journey and sustain it amidst a busy lifestyle
Such platforms help women to re-enter the workforce by equipping them with new-age skills, upskilling, polishing their interviewing skills and revamping their resumes