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GE Investing Millions into Abu Dhabi's Masdar City


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.

 

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