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Executive Council Issues a Resolution Transferring Ownership of Emirates Nuclear Energy Corporation (ENEC) to ADQ

Thursday, September 24, 2020/ Editor -  

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Home >> Energy and Industry

Executive Council issues a resolution transferring ownership of Emirates Nuclear Energy Corporation (ENEC) to ADQ

 
Abu Dhabi, United Arab Emirates, September 24, 2020:  Abu Dhabi Executive Council has issued a resolution transferring ownership of the Emirates Nuclear Energy Corporation (ENEC) to ADQ.


Transferring ENEC’s ownership shall not affect licensing, permissions, exceptions and approvals from federal and local government entities regarding ENEC, nor any of its affiliated companies. 


In addition, the resolution shall not affect the obligations and responsibilities of ENEC, nor any of its affiliated companies, including Abu Dhabi government’s obligations towards the ENEC, including contracts, agreements and warranties approved prior to the issuance of this resolution.


The resolution allows ADQ the right to transfer ENEC to a public joint stock company, wholly owned by ADQ or any of its wholly owned affiliated companies.
 


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