Latest news with #SultanbinAhmedAlJaber
Al Etihad
4 days ago
- Business
- Al Etihad
Sultan Al Jaber participates in Atlantic Council Global Energy Forum in Washington
18 June 2025 13:04 WASHINGTON (WAM)Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC, and Executive Chairman of XRG, on Wednesday called for the energy, technology, finance, and policy sectors to work in sync to meet the once-in-a-generation investment opportunity of artificial intelligence (AI).Delivering a keynote address in Washington DC at the ninth edition of the Atlantic Council Global Energy Forum to an audience of policymakers and industry leaders, Dr. Al Jaber described AI as the next stage of human evolution—and emphasised that meeting its demands will require an equally transformative shift in energy policy, investment, and infrastructure.'The race for AI supremacy is not just about code—it's about gigawatts,' he said.'Every AI breakthrough consumes more power. And right now, global energy systems are not ready.' He noted that the US alone may require 50–150 gigawatts of new capacity by 2030, dependent on the energy source, equivalent to the total consumption of dozens of major meet that challenge, Dr. Al Jaber outlined a system-wide roadmap—developed in partnership with XRG, MGX, and the Atlantic Council—calling for fast-tracked permitting, modernised grids, and strategic investment in gas, nuclear, and renewables.'You can't run tomorrow's technology on yesterday's grid,' he said.'Permitting delays and supply chain bottlenecks are now threats to progress. Policy must help, not hold back.'Dr. Al Jaber highlighted that the size of the opportunity is huge and the key to unlocking it is partnership. He explained that this is why the UAE and the US are enjoying a 'powerhouse partnership' across every sector.'For us, the United States is not just a partner—it's an investment imperative,' Dr. Al Jaber added.'US companies are among the UAE's largest concession partners, active from upstream to downstream. Currently, the UAE energy sector works with US companies across 18 states and 50 facilities, from gas to chemicals to energy infrastructure and energy solutions.''XRG is an anchor partner in the largest LNG facility in Texas. We produce speciality chemicals across the country. And our renewable energy company, Masdar, has developed 5.5GW of operational capacity from coast-to-coast. And we are just getting started. To help harness that ambition, we opened a joint XRG/Masdar office right here in Washington DC.'He highlighted that a single new data centre can consume as much electricity as a city the size of Pittsburgh.'Meeting this demand is not just a technical challenge – it is a once-in-a-generation investment opportunity. One that requires a system-wide shift, with energy, technology, finance, and policy operating in sync,' he Al Jaber argued that 'in the age of hyperscalers, we must hyperscale energy,' calling for reliable baseload sources such as gas and nuclear, backed by renewables, energy storage, and emerging solutions like small modular reactors (SMRs) and fusion. He also advocated for a 'pragmatic pause' on early retirements of existing power plants while expanding nuclear emphasised that modernising power delivery is equally urgent. 'Wait times for key components like transformers can exceed three years. That's not just a supply chain problem – it's a bottleneck to industrial growth. Unlocking this opportunity requires permitting reform, workforce development and de-risked capital.'He noted that, 'the tech sector runs on quarterly horizons; the power sector runs on decade-long timelines. We must bridge that divide. We must de-risk major capital investments, and policy must help, not hold-up progress. Currently, there are 2600GW of planned capacity around the world waiting for a connection. We must take that gridlock out of the grid.'Explaining that power generation 'is just one half of the equation' and 'delivering that power to the end user is the other, more complex half,' he called for efforts to train one million new electricians for the 21st century grid and unleashing AI's own potential to help manage energy systems more the situation in the Middle East, and its impact on regional and energy security, Dr. Al Jaber emphasised that the UAE will always stand for dialogue, de-escalation and diplomacy in resolving disputes and called on all parties to show restraint, respect the sovereignty of states and adhere to international law.'Concluding his remarks, Dr. Al Jaber called for greater collaboration to fully harness the power of AI and unlock significant economic opportunities.'To realise the full power of AI, we must give it the power it needs. That starts with a coordinated roadmap applied locally and scaled globally. We need policy that clears the path, infrastructure that carries the load, and investment that meets the moment.''AI and energy are the twin engines of progress. Two engines. One direction. Fast-forward into the future.'Dr. Al Jaber was speaking a day after convening the second ENACT Forum in Washington DC The Majlis-style meeting brought together leaders from energy, technology, finance, and government to advance a cross-sector action agenda for meeting AI-driven power demand, accelerating infrastructure investment, and delivering the system-wide solutions needed at speed and on these discussions, a new roadmap for cross-sector action was published today titled "Powering the Next Great Leap in Human Progress." It sets out the opportunities and integrated solutions required both to address the immediate energy surge from rapid AI-driven data centre growth, and to guide longer-term investments that will build a smarter, more resilient, and more efficient energy report highlights practical approaches across the full energy value chain, investment and policy opportunities, many of which are themselves AI enabled. It includes optimising existing generation capacity, modernising and expanding grid infrastructure, incentivising demand management, strategically siting new data centres and accelerating next-generation technologies. The framework emphasises the need for bold, system-wide action to ensure that the full transformative potential of AI can be fully realised.
Al Etihad
21-05-2025
- Business
- Al Etihad
Borouge, Mubadala Bio sign agreement to strengthen UAE's healthcare, life sciences sectors
21 May 2025 19:14 ABU DHABI (WAM)Borouge, a leading petrochemicals company, that provides innovative and differentiated polyolefins solutions, has signed a strategic cooperation agreement with Mubadala Bio, a life sciences company dedicated to pursuing better health outcomes for the UAE and partnership will explore the supply of polyolefin materials to enable local manufacturing of medical products, reinforcing local manufacturing capabilities while contributing to the future of the UAE's healthcare and life sciences signing ceremony was witnessed by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, Dr. Bakheet Al Katheeri, Chief Executive Officer, UAE Investments Platform, Mubadala, and Ismail Ali Abdulla, Executive Director of UAE Clusters, Sultan Al Suwaidi, CEO of Borouge, and Hamad Husein Almarzooqi, Deputy CEO of Mubadala Bio, signed the agreement during Make it in the Emirates, a flagship UAE event that unites industry leaders to drive innovation and industrial Al Suwaidi said, "We are delighted to partner with Mubadala Bio to explore the development of essential medical solutions made at our Ruwais facility in the UAE. Aligned with the ambitions of Make it in the Emirates, this collaboration goes beyond the supply of materials, it is about combining the UAE's scientific product innovation with regional insight to bring smarter, safer products for patients and clinicians across the Middle East and beyond."Ismail Abdulla added, "This collaboration agreement with Borouge reflects Mubadala Bio's commitment to enabling a world-class, sustainable life sciences sector anchored in advanced local manufacturing. By collaborating with local partners, we aim to grow the manufacturing of UAE-made products. We are strengthening the life sciences sector, supporting the UAE's vision, and enhancing the delivery of essential health products for communities locally and abroad."Powered by Borealis' Borstar technology, Bormed RG868MO, produced by Borouge in the UAE, marks a key milestone as the initial product offering in Borouge's wider healthcare RG868MO provides transparency and mechanical strength, and meets industry sterilisation standards, making it ideal for pharmaceutical packaging and medical devices like three-part syringes, inhalers, pharmaceutical caps and product is already in production at Borouge's manufacturing plant in Al Ruwais Industrial City, Abu Dhabi, representing the first time it has been made for healthcare applications in the UAE. Borouge is set to launch its second healthcare product by the end of the year, building on the momentum of its current Middle East rollout. Aligned with Borouge's commitment to sustainability and innovation, this healthcare solution enables customers to reduce production cycle times through faster processing, and can provide an estimated carbon footprint reduction of 5 - 10%.
Hi Dubai
21-05-2025
- Business
- Hi Dubai
MoIAT Signs AED40 Billion Financing Agreements to Boost Industrial Growth
The UAE has taken a major step in advancing its industrial sector, with the Ministry of Industry and Advanced Technology (MoIAT) signing five Memoranda of Understanding (MoUs) with leading national banks to unlock over AED40 billion in financing solutions. The agreements, witnessed by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, aim to fuel industrial expansion, support SMEs, and drive the adoption of advanced technologies in line with the UAE's sustainable development goals. Partner banks include First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. Each has pledged competitive, tailored financing to help businesses scale, innovate, and contribute to the country's strategic 'Make it in the Emirates' initiative. Omar Al Suwaidi, Under-Secretary of MoIAT, emphasized the importance of these partnerships in building a resilient, innovation-led industrial ecosystem. 'These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE's vision of a diversified, knowledge-based economy,' he said. Executives from all five banks echoed strong support for the initiative. FAB pledged AED5 billion in renewed funding, while WIO Bank committed up to AED1 billion in working capital support. Others highlighted the alignment of the initiative with national priorities, ethical financing, and long-term economic competitiveness. The agreements reflect growing synergy between the public and private sectors, positioning the UAE as a regional leader in advanced manufacturing and industrial innovation. News Source: Emirates News Agency
Dubai Eye
21-05-2025
- Business
- Dubai Eye
MoIAT secures AED 40 billion in bank partnerships to boost UAE industry
The UAE Ministry of Industry and Advanced Technology has secured over AED 40 billion in financing to boost the country's industrial sector, following the signing of five major agreements with leading national banks. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of Memoranda of Understanding with First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. The agreements aim to provide competitive financing for industrial companies, particularly small and medium-sized enterprises, and to support investment in advanced technologies across the UAE. Omar Al Suwaidi, Under-Secretary at the Ministry, said the initiative reflects the Ministry's commitment to empowering the industrial sector through strategic partnerships with top financial institutions. He added that the MoUs will help SMEs scale, innovate and contribute to the UAE's goal of building a diversified, knowledge-based economy. The partnerships will foster entrepreneurship, enhance access to flexible financing, and further strengthen collaboration between the government and financial sector in advancing the UAE's economic resilience and sustainability.
ARN News Center
21-05-2025
- Business
- ARN News Center
MoIAT secures AED 40 billion in bank partnerships to boost UAE industry
The UAE Ministry of Industry and Advanced Technology has secured over AED 40 billion in financing to boost the country's industrial sector, following the signing of five major agreements with leading national banks. Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, witnessed the signing of Memoranda of Understanding with First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and WIO Bank. The agreements aim to provide competitive financing for industrial companies, particularly small and medium-sized enterprises, and to support investment in advanced technologies across the UAE. Omar Al Suwaidi, Under-Secretary at the Ministry, said the initiative reflects the Ministry's commitment to empowering the industrial sector through strategic partnerships with top financial institutions. He added that the MoUs will help SMEs scale, innovate and contribute to the UAE's goal of building a diversified, knowledge-based economy. The partnerships will foster entrepreneurship, enhance access to flexible financing, and further strengthen collaboration between the government and financial sector in advancing the UAE's economic resilience and sustainability.
