Dubai Holding, the Dubai government's investment department in the fields of commodities and mining, power and energy and industry, signed a preliminary agreement with Imdaad, a facility management company, to invest in projects aimed at supporting Dubai's sustainable development plan.

In 2022, the Emirate launched a comprehensive waste management strategy for 2021-2041 with a budget of 20.3 billion US dollars, of which the contribution of the private sector will reach 70.5 billion dirhams. The Dubai government will also encourage innovation in waste management, recycling and energy conversion.

Ahmed Ben Fahd, CEO of Dubar Holding Company, said that the agreement between Dubar Holding Company and Imdaad is part of our efforts to explore new ways to promote the overall development of the national economy and sustainable development. This is in line with our commitment to assess and fund initiatives and projects that will contribute to Dubai's 2030 Industrial Strategy and 2050 Dubai Energy Strategy.

Dubai Holding's current asset portfolio includes 50% shares in Emirates Global Aluminum, 60% shares in OSE Industries, and minority interests in the Dubai Waste Management Center project and a calcined petroleum coke plant in China. Keywords: overseas news, engineering news

The United Arab Emirates will invest US $163.5 billion in clean and renewable energy projects in the next three decades to achieve zero net emissions by 2050. It is building a solar power plant with a capacity of 2 gigawatts in the Al Dhafra area of Abu Dhabi. It is also developing Mohamed bin Rashid Solar Park in Dubai, which has a capacity of 5 gigawatts. The United Arab Emirates is the third largest oil producer of OPEC. It has a hydrogen strategy aimed at occupying about 25% of the global market.Editor/Xing Wentao