IDEX 2019

Tawazun invests in Russian Aurus vehicles [IDEX19D4]

20 February 2019

Tawazun Economic Council, through its recently launched Defense and Security Development Fund, signed an agreement with Russia’s Central Scientific Research Automobile and Automotive Engine Institute “NAMI” to invest in the Aurus brand, which specialises in luxury and armed vehicles. The AED460 million (about €110 million) investment for a 36 per cent share will be directed towards the development of the company’s manufacturing facilities and capabilities.

The agreement, signed at IDEX, was attended by HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; as well as HE Jassem Mohamed Al Zaabi, Chairman Abu Dhabi Executive Office; HE Saif Mohamed Al Hajeri, Chairman of the Department of Economic Development; HE Denis Valentinovich Manturov, Russian Minister of Trade and Industry; and HE Tareq Abdul Raheem Al Hosani, CEO of Tawazun Economic Council. It was signed by Abdullah Nasser Al Jaabari, Chief Officer and Head of the Defense and Security Development Fund; Sergey Gaysin, Director General of NAMI; and Nikolay Sobolev, First Deputy to the CEO of Russian Automotive Gathering ‘Sollers’.

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