ADNOC Logistics & Companies and TA’ZIZ will set up a devoted chemical compounds port, valued at over US$300 million, on the TA’ZIZ Industrial Chemical substances Zone in Al Ruwais.
The 2 Abu Dhabi-based firms have entered a 50-year settlement, beneath which ADNOC L&S will construct, personal and function the port, whereas TA’ZIZ will leverage the ability to export chemical compounds and their derivatives.
ADNOC L&S, TA’ZIZ to construct chemical compounds port
The port is scheduled for completion within the fourth quarter of 2026 and is projected to generate greater than US$1.3 billion in income for ADNOC L&S over the primary 27 years.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, commented: “This strategic settlement for a first-of-its-kind devoted chemical compounds port will present ADNOC L&S long-term, predictable income whereas supporting TA’ZIZ’s rising chemical compounds ecosystem.
“The venture demonstrates our skill to increase into high-growth sectors and ship sustainable worth for shareholders, whereas advancing the UAE’s industrial development.”
Mashal Al-Kindi, CEO of TA’ZIZ, added: “With TA’ZIZ strategically positioned near fast-growth markets in Asia and Africa, this devoted chemical compounds port will allow us to export our merchandise effectively and at scale, supporting the UAE’s ambition to ascertain a world-scale chemical compounds business.
“Partnering with ADNOC L&S on this vital venture will make sure the port is constructed, operated and scaled to allow dependable logistics providers and income for TA’ZIZ.”
Based in 2020 as a joint venture between ADNOC and ADQ, TA’ZIZ, drives, helps, and allows the manufacturing of transition fuels and new merchandise throughout the chemical compounds worth chain for ADNOC. It’s creating the UAE’s first built-in chemical compounds ecosystem and, by the tip of 2028, can be producing 4.7 million tons each year of chemical compounds, together with methanol, low-carbon ammonia, caustic soda, ethylene dichloride (EDC), vinyl chloride monomer (VCM) and polyvinyl chloride (PVC).
The corporate is anticipated to contribute considerably to the UAE financial system and create hundreds of jobs. It would additionally unlock tons of of recent end-products throughout vital industries resembling building, agriculture and healthcare.