Taqa’s assets to surpass Dh100bn by end-2011: GIH

Taqa’s total assets were estimated at Dh91.3bn at the end of 2009 (AFP)

Abu Dhabi National Energy Company (Taqa) is expected to be in control of more than Dh100 billion at the end of 2011 for the first time since it was created by the Abu Dhabi Government nearly five years ago, a Kuwait investment firm said.

Taqa’s total assets were estimated at around Dh91.3bn at the end of 2009, up from nearly Dh86.3bn at the end of 2008, Global Investment House said.

At the end of 2010, the assets are projected to climb to nearly Dh98.6bn before they break the Dh100bn-mark and swell to Dh105.3bn at the end of 2011. They will continue their climb and reach Dh112.2bn at the end of 2012, GIH said in a study about banks and other companies in the Gulf.

Total revenues are also expected to record a steady increase on the back of higher return from power investment and strong oil prices, GIH said.

 

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

 

Print Email