Adnoc and ADQ form joint venture to spur investment at Ruwais chemicals hub – The National

Adnoc and ADQ form joint venture to spur investment at Ruwais chemicals hub – The National

Partners will announce new projects available to investors by the end of 2020













Adnoc will form a joint venture with Abu Dhabi holding company ADQ to hasten the development of chemicals manufacturing at Ruwais.



The companies will evaluate and invest in "select, anchor chemicals projects" and attract other investors to the industrial hub in the emirate's Al Dhafra region.



"Our partnership with ADQ will expand on existing efforts to maximise the value of our assets in Ruwais to kickstart the development of the UAE's downstream derivatives sector, support the transformation of Ruwais into a global hub for industry and attract additional foreign direct investment to Abu Dhabi,“ said Dr Sultan Al Jaber, Adnoc Group chief executive and Minister of Industry and Advanced Technology.



ADQ's portfolio of assets includes several large industrial and manufacturing companies in non-oil sectors such as transportation, metals and power, including Abu Dhabi Ports, Etihad Rail, Emirates Steel and Taqa.







.@ADNOCgroup and ADQ have formed a joint venture to create a new investment platform that will fund the development of strategic projects within the Ruwais Derivatives Park, a key enabler of ADNOC Downstream's 2030 smart growth strategy and the