Abu Dhabi Investment Fund Mubadala Spends $5.5bn

The Abu Dhabi government’s investment vehicle, Mubadala expects to spend about Dhs20.1bn ($5.47bn) this year, as it seeks to expand a diverse line of businesses ranging from oil and gas to semiconductors, Reuters has reported.

The state-owned fund expects a majority of that expenditure to relate to its semiconductor unit Advanced Technology Investment (Atic); its joint venture with General Electric; solar energy project Masdar and oil and gas projects.