Abu Dhabi’s ADQ has teamed up with IHC and Modon Holding to work on big projects

Abu Dhabi’s ADQ has teamed up with IHC and Modon Holding to work on big projects

Abu Dhabi’s sovereign wealth fund, ADQ, has teamed up with International Holding Company (IHC) and Modon Holding to create a joint venture (JV) that will focus on delivering big projects.

Joint Venture

A new joint venture called Gridora will be run by Modon. According to a statement from IHC on Wednesday, Gridora will act as a platform to work with expert partners and investors to build large and important infrastructure projects.

Thanks to Modon’s experience with infrastructure and real estate projects in the UAE and around the world, Gridora will help speed up the completion of major projects both locally and internationally.

Gridora will focus on two main areas: building infrastructure projects and investing in infrastructure. This setup uses the strengths of its founding partners in starting and managing projects.

The goal of this approach is to make profits while helping to expand infrastructure in the UAE, the region, and globally.

The company said Gridora will also help public and private sectors work together more closely over the long term.

In addition, the joint venture will add value throughout the entire life of a project—from early planning to full operation—creating new chances for earning fees and long-term investment returns.

Last month, ADQ made a deal with U.S.-based Energy Capital Partners (ECP) to create another joint venture focused on building power and energy infrastructure. Together, they plan to invest over $25 billion in projects totaling 25 gigawatts (GW), starting with $5 billion in initial funding.

Important Quote

Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said:
“As a long-term investor in infrastructure, creating Gridora shows our strong commitment to helping develop important projects.
Working with top companies like Modon and IHC will help us unlock more value through this platform. It also shows our growing confidence in bringing innovation and long-term benefits to the UAE and beyond.”

Published: 17th April 2025

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