Ipic of Abu Dhabi has $20bn in liability

IpicThe Abu Dhabi government’s venture firm, International Petroleum Investment Company (Ipic), has $20.3 billion in long term and short-term liability on its accounts and its complete equity quantity to $14.6 billion, as per the official document.

As per a copy of Ipic’s latest bond brochure witnessed by Emirates 247, the unlisted Ipic, that is consequently not compelled to issue financial details on a usual basis, had $5.34 billion in short-range liability and $14.96 billion in long-term liability as of June 30, 2010.

The liability on Ipic’s books comprise of borrowings of groups that it possess, counting Aabar Investments, Borealis, Ferrostaal and Nova Chemicals.

Ipic that has completed an amount of noteworthy attainment and discarding in current years as per the documents that it might carry on appraising latent investment opening and will design investments if an striking investment occasion that convene its investment decisive factor arises.