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Mubadala Investment Company has acquired a 49 percent stake in the oil country tubular goods (OCTG) business of Spanish industrial solutions firm Tubacex for $200 million. The investment will boost production of corrosion-resistant alloy tubular solutions for gas exploration.
“This collaboration aligns … with our efforts to support the UAE’s industrial vision which aims to accelerate the nation’s development of non-oil based growth.”thenationalnews.com
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