Gridora Signs Historic MoU with Abu Dhabi Projects and Infrastructure Centre for Transportation Projects

Gridora's Strategic Collaboration with Abu Dhabi

In a landmark development for the infrastructure landscape, Gridora, the new infrastructure platform established by ADQ, IHC, and Modon Holding, has signed its inaugural Memorandum of Understanding (MoU) with the Abu Dhabi Projects and Infrastructure Centre (ADPIC). This historic agreement aims to accelerate the implementation of pivotal transportation infrastructure projects in Abu Dhabi, boasting an estimated value of AED 35 billion.

Goals of the Agreement

The MoU creates a foundational framework for potential collaboration between Gridora and ADPIC, focusing on the development, planning, and execution of critical infrastructure projects within the Emirate. At the outset, the emphasis will be on establishing a working committee to assess opportunities, identify pilot projects, and suggest initiatives that Gridora can implement. This is particularly relevant as ADPIC is tasked with managing various significant projects across the Emirate.

Key Statements by Leaders

H.E. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Gridora, emphasized the partnership's importance when he stated, "The expertise and resources of Gridora will lead to the creation of world-class infrastructure, ultimately supporting the country’s ambitious economic and population growth objectives. Our MoU with ADPIC reflects our mutual commitment to accelerating the implementation of essential transportation infrastructure through a combination of innovation, scale, and vision. The realization of these major infrastructure projects will fundamentally transform Abu Dhabi, and we look forward to working closely with ADPIC as a trusted infrastructure partner."

H.E. Mohamed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport, added to this sentiment, stating, "This strategic partnership between ADPIC and Gridora underscores our joint objective of creating a transportation infrastructure that promotes the continuous growth of Abu Dhabi as a global city. By leveraging Gridora's capabilities, this collaboration is set to expedite project delivery, enhance cost efficiency, and generate long-term value for Abu Dhabi and its communities."

Moreover, Eng. Maysarah Mahmoud Eid, Director General of ADPIC, remarked that infrastructure plays a crucial role in creating opportunities, fostering economic growth, and ensuring long-term sustainability. He noted, "This MoU with Gridora reinforces our collective commitment to advancing impactful projects that will enhance connectivity and the quality of life throughout the Emirate. By aligning our strategic vision with Gridora's delivery capabilities, we are shaping a sustainable future that is in harmony with Abu Dhabi's long-term goals."

Additionally, Bill O'Regan, Group CEO of Modon Holding, expressed his optimism about the collaboration: "This MoU allows us to fully leverage Gridora's potential in delivering critical infrastructure, ensuring the long-term growth of this newly announced infrastructure platform. We look forward to supporting Gridora in realizing its objectives and equipping world-class cities with state-of-the-art infrastructure."

About Gridora

Gridora operates under Modon Holding in partnership with ADQ and IHC, serving as a strategic platform for collaboration with specialized partners and financiers to facilitate large-scale, high-impact infrastructure projects. By adopting a dual business model focused on "infrastructure projects" and "infrastructure investments," Gridora has the capacity to engage throughout the lifecycle of infrastructure developments.

The MoU with ADPIC marks the first of several initiatives aimed at enhancing public infrastructure with high impact, promoting collaboration between the public and private sectors, and showcasing Gridora's significant operational scale.

About ADPIC

Founded in 2023, ADPIC has set its sights on overseeing and managing investment projects designed to improve the quality of life for all residents of Abu Dhabi. Its portfolio includes various initiatives such as housing, infrastructure, tourism, community facilities, and education. ADPIC is responsible for managing contracts and overseeing the approval, planning, and conceptualization of investments, working closely with relevant authorities and stakeholders to ensure project quality while enabling effective execution aligned with Abu Dhabi's strategic objectives. Through its endeavors, ADPIC aims to strengthen public-private partnerships and apply globally recognized best practices in sustainability.