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Adnoc to Drive Over $43.6 Billion ICV Over The Next 5 Years Published December 16th, 2020 - 01:15 GMT
Adnoc’s ICV programme is aimed at nurturing new local and international partnerships and business opportunities for the private sector, fostering socio-economic growth, and creating job opportunities for Emiratis. (Shutterstock)
The Abu Dhabi National Oil Company (Adnoc) has announced that it will boost in-country value (ICV) to the UAE to support post-Covid economic growth through its hugely successful ICV programme.
As part of this commitment, Adnoc will drive over AED160 billion ($43.6 billion) back into the UAE economy over the next 5 years as it executes its capital expenditure (Capex) recently approved by Abu Dhabi’s Supreme Petroleum Council (SPC).
ABU DHABI, December 15, 2020 The Abu Dhabi National Oil Company (Adnoc) has announced that it will boost in-country value (ICV) to the UAE to support post-Covid economic growth through its hugely successful ICV programme. As part of this commitment, Adnoc will drive over AED160 billion ($43.6 billion) back into the UAE economy over the next 5 years as it executes its capital expenditure (Capex) recently approved by Abu Dhabi’s Supreme Petroleum Council (SPC). Delivering the opening remarks at Adnoc’s Private Sector and ICV Forum which had over 3,000 virtual attendees, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Adnoc Group CEO said the ICV target represents a substantial financial spillover impact that will create more opportunities for the private sector and support post-COVID economic growth.
Media Statement: TAC welcome permanent appointment of MEC for Health and list key areas of concern – Treatment Action Campaign tac.org.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tac.org.za Daily Mail and Mail on Sunday newspapers.