UAE strengthens its position as a hub for advanced manufacturing

The Ministry of Investment hosted the signing of a landmark joint venture agreement to establish Tellus Power Mena, a new UAE-based electric vehicle (EV) infrastructure manufacturer and technology partner.

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The Ministry played a pivotal role in facilitating this greenfield investment, reiterating its commitment to attracting future-enabling investment into the UAE while also supporting and promoting the growth of family businesses in the UAE's markets and strengthening the country’s position as a regional hub for advanced manufacturing and sustainable technologies, two priority sectors under the National Investment Strategy.

The Ministry of Investment was involved from the deal's inception to its conclusion. Its role included introducing business partners, conducting thorough due diligence, and actively supporting the joint venture negotiations.

Furthermore, the ministry provided strategic investment guidance and served as a crucial connector, linking the involved parties with relevant government entities and free zones to ensure a smooth and efficient setup.

The agreement was signed at the Ministry’s headquarters by Mike Calise, CEO of Tellus Power Globe Holding Limited (Tellus Power), and Marius Ciavola, CEO of Sing Family Enterprise Middle East.

The event was witnessed by Hessa Al Ghurair, Acting Assistant Undersecretary of the UAE Ministry of Investment, Hamdan Zakaria Doleh, Chairman of China Innovation Centre in UAE, Yansong Li, Co-Founder of Tellus Power, and Mohammad BinHendi, Group CEO of BinHendi Holding.