Abu Dhabi attracts new investments for $4bn chemicals hub in PPP push – ArabianBusiness.com

Abu Dhabi attracts new investments for $4bn chemicals hub in PPP push – ArabianBusiness.com

The Abu Dhabi Chemicals Derivatives Company, better known as TA’ZIZ, has signed investment agreements with eight UAE-based investors, marking the first domestic public private partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector.

The agreements comprise commitments to invest in an up to 20 percent stake in a portfolio of chemicals projects worth AED15 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.

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC managing director and group CEO, said: “We are delighted to welcome leading UAE-based investors to partner with ADNOC and ADQ to further accelerate the development of TA’ZIZ.