Nov 24 2006 |
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Global Tentacles
The Falaknaz conglomerate uses Falak Holding 's investment arm to buy into companies globally. "In Australia we have gone into metals and mining, software solutions and steel, where we have done very well," Falaknaz says."We have also invested in Boulder Steel , for which we are in the process of closing a $650 million (Dh2.3 billion) placement through the Abu Dhabi-based The National Investor and two other banks. The money will be used to set up a steel plant in Australia as well as a finishing plant in the UAE." The group has invested in Canadian company Minaean that is constructing buildings in India for some of the largest business houses.
"We have also invested in entities in Angola and Turkey and we are now looking at expanding into Sudan in the minerals and real estate sectors," he says.
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