Mubadala, Indra plan ventures in transport, traffic

Dubai: Mubadala, the Abu Dhabi investment and development company, says it has signed a Memorandum of Understanding (MoU) with Indra, a Spanish IT company.

The Memorandum of Understanding sets out a framework for new technology partnerships and joint venture projects, a company spokesman said.

Focusing on transport and traffic technology systems, the agreement is described as an extension of an existing relationship which began in 2008 when an MoU on aerospace and security technology collaboration was signed.

Since then, the two companies have delivered several projects in aerospace, automated maintenance systems and defence electronics.

Jasem Al Za'abi, Executive Director, Mubadala Information and Communications Technology (ICT) said: "We've been working with Indra for some time now, collaborating on important projects across a wide range of technology areas".

"The ICT sector is vital to our plans for economic diversification and partnering with businesses that are global leaders in their field is a central part of our growth strategy. We look forward to exploring new projects and opportunities together," he said.

Bolster position

The new MoU is designed to bolster Indra's position in the Middle East as a leading technology services business. Its plans for supporting infrastructure development across the region are in close alignment with development plans of the GCC, including the Abu Dhabi Economic Vision 2030.

Alfonso Fernandez Rangel, Middle East Business Development Director of Indra, said: "This agreement is exciting for us because it marks another step in our continued growth in Abu Dhabi and the wider Middle East.

"We're pleased to be a partnering with an organisation that shares our vision for innovation and for delivering world-class services and products. I'm sure this will lead to some major technology projects very soon," Rangel said.

Transport infrastructure

For Mubadala, extending this partnership enables the company to further develop technology solutions that will support Abu Dhabi's ambitious plans for its transport infrastructure, a company spokesman said.

This is critical for enabling the continued diversification of the emirate's economy as well as assisting urban and community development.

Indra's international leadership in technology solutions for service suppliers, and transport operators, and its value-added approach were important factors in Mubadala's decision to explore further projects in partnership with the company.

Indra is a leading air traffic management company.