GE Investing Millions into Abu Dhabi's Masdar City

Written by Jaymi Heimbuch

Tuesday, 29 July 2008

GE recognizes a smart move when it sees one, and investing in Masdar City is just such a move. While already an anchor partner in the Masdar initiative, GE is forming a multi-billion joint venture with Abu Dhabi’s Mubadala Development, the investment arm of the Abu Dhabi government and controller of the Masdar initiative, in which GE will invest up to $50 million in Masdar’s second Clean-Tech Fund and will establish a clean energy technology center in Masdar City. They plan to hire around 100 technologists to fill positions – so if you’re a tech-geek looking for a new job, and want to move…

Additionally, the partners will each invest $4 billion into global commercial financial services businesses. GE is leaning toward the Middle East because of the potential for water desalination and, energy investments and general outrageous growth. Not surprising, considering where the EU is headed for its own solar and water desalination investments.

Via CleanTech

Comments (2)

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written by cmdrtebok , July 30, 2008

Oh yea I'd love to move to Abu Dhabi. Maybe I will join the local synagogue... oh wait...

If you are an environmentalist, or care about human rights at all you should probably not get too excited about projects in the UAE. Who cares if it is green if it is being built with indentured servants and slaves from Africa, Indonesia and India.

GE SELLING OFF MAJOR DIVISIONS
written by Steven Mason , July 30, 2008

Ge is selling off several of its major divisions because GE is strapped for cash and is trying to get its stock out of the dumps. GE is putting up a bidding war on their major appliance division for 3 foreign countries to bid on, China is one of the countries.
Also, GE is being hammered by it's stock holders because they are selling products to Iran.
This new deal with Abu Dhabi, you failed to mention that Abu Dhabi is going to buy large amounts of GE stock to be one of the major stock holders in GE. Why does Abu Dhabi need money from GE when they have enough money to buy or invest in any venture they choose? GE needs money and this is another reason we need to break the oil addiction chains and use biofuels as our companies and country is being purchased from abroad.

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