Rio de Janeiro: H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has engaged with Mubadala’s team in Rio de Janeiro, including Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, during his official visit to Brazil. His focus was on assessing Mubadala’s investments in Brazil, which have significantly influenced the country’s socioeconomic growth over the past 12 years.
According to Emirates News Agency, Mubadala has been active in Brazil since 2012, managing $5.7 billion in assets through its subsidiary Mubadala Capital, including $2.5 billion in third-party capital. Their investments span critical infrastructure projects and major companies, encompassing toll roads, ports, metro lines, and medical universities.
Sheikh Khaled highlighted that UAE’s investments in Brazil are vital in fortifying economic ties between the nations, underscoring the UAE’s role as a global economic partner. He commended Mubadala’s progress and stressed the need for expanding initiatives to di
versify its portfolio and enhance Brazil’s sustainable economic and social development.
Waleed Al Mokarrab Al Muhairi expressed gratitude towards Sheikh Khaled for his dedication to strengthening UAE investments globally. He detailed Mubadala’s achievements in Brazil, emphasizing plans to expand their portfolio significantly over the coming years.
A notable future initiative discussed was Acelen Renewables’ commitment to building five biofuel refineries in Brazil, potentially creating 400,000 jobs. The first refinery, to begin production by 2027 in Bahia, involves planting 80 million macau´ba trees. This project aims to produce renewable fuels, including sustainable aviation fuel, and is projected to reduce CO2 emissions by up to 80 percent compared to fossil diesel. Over 20 years, 200,000 hectares of trees are expected to capture 60 million tons of CO2.
