Republic of Guinea and Mubadala Development Company announce collaborative agreement

posted on 14/11/2011: 74 views

The Republic of Guinea and Mubadala Development Company (Mubadala), the Abu Dhabi-based strategic investment and development company, announced yesterday the signing of agreements to explore new investments and partnerships in strategic sectors such as Bauxite, Alumina and Iron Ore. These initiatives are expected to deliver significant benefits to the economies of both the Republic of Guinea and the United Arab Emirates.

Commenting on the agreement, Mohamed Lamine Fofana, Minister of Mines and Geology said: "Mubadala is a strategic partner for the Republic of Guinea and we are very pleased to announce this agreement. We look forward to working towards a successful partnership with Mubadala in these sectors, which are highly strategic for Guinea and are an important foundation for the development of our economy and the realisation of new opportunities for our people. This is one of the most important developments in the broader cooperation between The Republic of Guinea and the United Arab Emirates".

Waleed Al Mokarrab Al Muhairi, Chief Operating Officer of Mubadala commented: "We are delighted to have signed this agreement with the Republic of Guinea, who share our strong development philosophy. This partnership will create a range of positive impacts on the economies of both countries, including industrial investment, job creation and local community developments. Furthermore, it will play a vital role in the ongoing successful implementation of our strategy to build a global Aluminium champion through EMAL while securing raw materials for the UAE's growing steel industry. We are extremely honoured to partner with the Republic of Guinea and look forward to a long and productive relationship". - Emirates News Agency, WAM

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