UAE state-owned oil company, Abu Dhabi National Oil Company (ADNOC) has signed an agreement with the Abu Dhabi National Energy Company (TAQA), in order to construct the utilities facility for TA’ZIZ downstream industrial zone being built in Ruwais.
According to the conditions of the utilities facility agreement, ADNOC and TAQA will collaborate to produce electricity, steam, cooling, demineralized water, and wastewater services to support chemicals projects within the TA’ZIZ environment.
This deal brings together two of Abu Dhabi’s industrial giants, using the expertise and skills of both TAQA and ADNOC to improve the attractiveness of TA’ZIZ projects and reinforce the value proposition for investors. TA’ZIZ will accelerate the UAE’s broader economic growth and industrial diversification, with initial chemicals production expected in 2025.
“We look forward to partnering with ADNOC on such an important project for Abu Dhabi that will be serving a multitude of industries, with both local and international market players. As a fully integrated utilities company, based here in Abu Dhabi, being able to provide such critical services for TA’ZIZ is at the core of what we do at TAQA. In addition to supporting critical infrastructure development in our home market, this project advances the economic vision for the emirate and the UAE.”
Khaleefa Al Mheiri Acting CEO, TA’ZIZ said, “ADNOC’s agreement with TAQA is the next milestone in the development of TA’ZIZ, as we continue to grow a globally competitive industrial ecosystem and highly attractive and competitive investor value proposition.”
“Through the partnership between ADNOC and TAQA and related enabling investments in TA’ZIZ, we are well-placed to further strengthen our position as a world-scale chemical and industrial hub and a top destination for foreign direct investment, leveraging technology to further grow the UAE’s advanced manufacturing base,” he further added.
TA’ZIZ will help to accelerate the development of industrial and supply chain activities at Ruwais. “Manufacturers will locate in the TA’ZIZ Light Industrial Zone, adjacent to the TA’ZIZ Industrial Chemicals Zone, off-taking TA’ZIZ chemicals to make value-added products for local and international markets,” as per the reports. Suppliers will cluster in the TA’ZIZ Industrial Services Zone to address the increased demand for services in the Ruwais industrial sector.
Related: ADNOC, ADQ launch venture to boost UAE chemical sector