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  • Leading UAE Investors Partner with ADNOC and ADQ to Develop World-Scale Chemicals Projects in Ruwais
    édité le 16/12/2021 - Plus de news de "ADNOC" - Voir la fiche entreprise de "ADNOC"


Leading UAE Investors Partner with ADNOC and ADQ to Develop World-Scale Chemicals Projects in Ruwais
The Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) signed investment agreements with eight United Arab Emirates (UAE)-based investors, marking the first domestic Public Private Partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector. The agreements comprise commitments by the investors to invest in an up to 20% stake in a portfolio of chemicals projects worth AED 15 billion ($4 billion) within the TA’ZIZ Industrial Chemicals Zone, alongside Abu Dhabi National Oil Company (ADNOC), ADQ, and other global strategic partners in Ruwais, Abu Dhabi.

The signing of the investment agreements was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and His Excellency Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ.

H.E. Dr. Sultan Al Jaber, said: “We are delighted to welcome leading UAE-based investors to partner with ADNOC and ADQ to further accelerate the development of TA’ZIZ. This equity partnership, the first Public Private Partnership of its kind in Abu Dhabi’s chemicals industry, highlights ADNOC’s continued commitment to deepening our contributions to local industry and pioneering new, innovative means of collaboration with the UAE’s private sector.”

“Through TA’ZIZ, our new domestic partners will have a stake in ongoing activities to enable additional domestic production of critical industrial raw materials, drive economic diversification and further grow the UAE’s advanced manufacturing base, supporting the ambitions outlined in the ‘Principles of the 50’ set out by our wise leadership. Looking ahead, we look forward to further growing a robust pipeline of investment and partnership opportunities at TA’ZIZ, welcoming leading investors who are ready to partner with us on the development of a globally competitive chemicals and industrial hub.”

H.E. Mohamed Hassan Alsuwaidi said: “The agreements reflect our aim to strengthen collaboration with the private sector. Sustainable industrial growth ensures that the UAE is well positioned to attract foreign direct investment and grow its leadership across core sectors of the economy where ADQ is active. Through our broad portfolio, we can unlock the investment potential of TA’ZIZ on a global scale, while remaining firmly committed to driving value creation and supporting the sustainable development of Abu Dhabi’s economy.”

The eight UAE-based investors who have signed agreements with TA’ZIZ include:

   - Al Dhafra Co-operative Society
   - Al Nasser Holdings LLC
   - Alpha Dhabi Partners Holding LLC
   - Arab Development Establishment
   - Buhairan Limited Company LLC
   - Capital Investment LLC
   - Mazrui International and Mazrui Energy Services
   - Riverside Investments LLC

The development of the TA’ZIZ industrial hub is expected to benefit from ADNOC and ADQ’s world-class infrastructure and high-quality feedstock, as well as the support of MoIAT. ADNOC’s operations are a critical engine for industrial growth in the UAE, with competitive feedstocks available to catalyze the growth of industries and manufacturing supply chains. Similarly, ADQ is advancing economic clusters around essential sectors, ensuring they are part of global value chains, facilitating growth and a broad portfolio of major enterprises that spans key sectors of a diversified economy, as well as enabling private sector investment in the UAE’s economy.

The TA’ZIZ Industrial Chemicals Zone has received significant interest from leading international and local investors alike. Partnership agreements have already been signed with Fertiglobe, a JV between ADNOC and OCI, Mitsui and GS Energy regarding a proposed blue ammonia production facility and with Reliance Industries, regarding a proposed JV for the development of an ethylene dichloride (EDC), chlor-alkali (CA), polyvinyl chloride (PVC) production facility. In addition, ADNOC has signed agreements to develop a utilities facility with TAQA and a world-scale port with ADNOC Logistics & Services and AD Ports Group to support and drive the growth of the TA’ZIZ Industrial Chemicals Zone. The TA’ZIZ Industrial Chemical Zone projects are currently in the design phase with project start up targeted in 2025.

The local investor agreements follow an exclusive briefing for the UAE’s leading investors, held at the ADNOC Business Centre in Abu Dhabi in September. The event unveiled TA’ZIZ’s unique investment proposition and was hosted in partnership with MoIAT.

Chemicals is a priority sector for “Operation 300bn,” the UAE’s industrial growth strategy championed by MoIAT, which has the goal to raise the UAE industrial sector’s contribution to national gross domestic product (GDP) to AED 300 billion by 2031. Chemicals enable everyday life and represent an attractive sector given the projected global demand growth and the opportunity to create new supply chains through local production.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.

About TA’ZIZ

In Arabic, TA’ZIZ means advancement, strengthening or creating a foundation. It is an industrial services and logistics ecosystem that drives, supports, and enables the growth of the Ruwais Industrial Complex and Abu Dhabi’s chemicals, advanced manufacturing and industrial sectors.

About ADQ

Established in Abu Dhabi in 2018, ADQ is one of the region's largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.


Origine : Communiqué ADNOC

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