TA’ZIZ continues to grow position as key pillar of ADNOC’s downstream and industrial growth strategy, further driving UAE’s economic diversification
Local investors to take up to 20% stake in AED 15 billion TA’ZIZ Industrial Chemicals Zone projects, representing the first domestic Public Private Partnership in Abu Dhabi’s petrochemicals industry
ADNOC, ADQ and the Ministry of Industry and Advanced Technology continue to drive opportunities for UAE’s fast-growing industrial sector, in line with the “Principles of the 50”
Continued strong interest from local private sector investors as well as strategic international partners demonstrate the compelling value proposition offered by TA’ZIZThe Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) today 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.”
