Saturday 31 October 2020 - 2:14:27 am

Abu Dhabi Executive Council issues Resolution transferring ownership of ENEC to ADQ


ABU DHABI, 24th September, 2020 (WAM) -- 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, the Abu Dhabi Executive Council said in a statement.

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.

 

WAM/Esraa Ismail/Rasha Abubaker