Adnoc, ADQ launch JV to drive growth in UAE chemicals sector

Adnoc, ADQ launch JV to drive growth in UAE chemicals sector

Abu Dhabi / WAMThe Abu Dhabi National Oil Company (Adnoc) and ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy, on Tuesday announced Ta'ziz as the name of the new joint venture (JV) established by both companies, which will drive the development of industrial projects within the planned Ruwais Derivatives Park and act as a catalyst for the UAE's economic diversification and technology-led growth. The name Ta'ziz, which in Arabic means advancement, strengthening, or creating a foundation, describes the ambition of Adnoc and ADQ as they kickstart the development of industrial growth in Ruwais. In addition, it aligns with Adnoc's drive to stretch the value from every barrel refined, shipped and sold, also targeting self-sufficiency with