Refining & Petrochemicals Middle East

UAE investors to take up to 20% stake in TA’ZIZ chemicals projects


The Abu Dhabi Chemicals Derivative­s Company RSC Ltd (TA’ZIZ) has signed investment agreements with eight United Arab Emirates -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 AED15 billion ($4 billion) within the TA’ZIZ Industrial Chemicals Zone, alongside Abu Dhabi National Oil CO.(ADNOC, ADQ, and other global strategic partners in Ruwais, Abu Dhabi.

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

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.”

He said, “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.”

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