Abu Dhabi-based Mubadala has signed has signed a new MoU with Indra, the premier IT company in Spain and a leading multinational in Europe, on transport and traffic technology systems.

A leading investment and development company, Mubadala said the agreement is an extension of an existing relationship which began in 2008 when an MoU on aerospace and security technology collaboration was signed.

Since then, the two companies have delivered several projects in aerospace, automated maintenance systems and defence electronics, it added.

The new MoU strengthens relationship with Mubadala and builds on previous initiatives in the aerospace and security sectors, said a statement from Indra.

Jassem Al Zaabi, executive director, Mubadala Information & Communications Technology (ICT), said, 'We’ve been working with Indra for some time now, collaborating on important projects across a wide range of technology areas.'

'The ICT sector is vital to our plans for economic diversification and partnering with businesses that are global leaders in their field is a central part of our growth strategy. We look forward to exploring new projects and opportunities together,' he noted.

Alfonso Fernández Rangel, ME business development director of Indra, said; 'This agreement is exciting for us because it marks another step in our continued growth in Abu Dhabi and the wider Middle East.'

'We’re pleased to be a partnering with an organization that shares our vision for innovation and for delivering world-class services and products. I’m sure this will lead to some major technology projects very soon,' he added.

The deal bolsters Indra’s position in the region as a top technology services business. Its plans for supporting infrastructure development across the region are in close alignment with development plans of the GCC, including 'The Abu Dhabi Economic Vision 2030.'

'For Mubadala, extending this partnership enables the company to further develop technology solutions that will support Abu Dhabi’s ambitious plans for its transport infrastructure,'Al Zaabi pointed out.

'This is critical for enabling the continued diversification of the emirate’s economy as well as assisting urban and community development,' he added.

Indra’s international leadership in technology solutions for service suppliers, and transport operators, and its value-added approach were important factors in Mubadala’s decision to explore further projects in partnership with the company.-TradeArabia News Service