Abu Dhabi's TA’ZIZ signs 8 local partnerships worth US $4 billion

​​The Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) signed either investment agreements with companies from the United Arab Emirates (UAE), marking the first domestic Public Private Partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector. 

TA’ZIZ said that the agreements comprise commitments by the investors to invest in an up to 20 percent stake in a portfolio of chemicals projects worth US 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 eight UAE-based investors who have signed agreements with TA’ZIZ include:  Al Dhafra Co-operative Society,   Al Nasser Holdings,  Alpha Dhabi Partners Holding LLC, Arab Development Establishment, Buhairan Limited Company LLC, Capital Investment LLC, Mazrui International and Mazrui Energy Service,   Riverside Investments LLC

 “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,” said Dr. Sultan Al Jaber,  UAE Minister of Industry and Advanced Technology (MoIAT) and ADNOC Managing Director and Group CEO

 The TA’ZIZ Industrial Chemicals Zone has received significant interest from leading international and local investors, ADNOC said in a statement on Wednesday.

Previously, partnership agreements have 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.   

The chemical industry is a priority sector for “Operation 300bn,” which has the goal to raise the UAE industrial sector’s contribution to national gross domestic product (GDP) to AED 300 billion by 2031.