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Abu Dhabi to invest $200bn in core sector

Abu Dhabi is planning to invest up to $200bn on infrastructure projects to cater to the needs of its growing population, the state-run Emirates News Agency (WAM) quoted Abdulraman Al-Tassan, chief executive of RAKAA Properties, as saying. He added the manufacturing sector was projected to continue to grow as mega projects in heavy and light industries, foodstuff industries and other non-oil manufacturing industries were launched in the emirate. The industrial boom, coupled with tremendous investment opportunities, will reduce reliance on oil revenue by 10% over the next 15 years, he said.