Adnoc, Taqa to develop world class utilities at Ta’ziz in Ruwais

Adnoc, Taqa to develop world class utilities at Ta’ziz in Ruwais

ABU DHABI / WAM

Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company PJSC (Taqa) have signed an agreement to construct the utilities facility for Ta'ziz, the new world-scale chemicals production hub and globally competitive industrial ecosystem currently under development at Ruwais, Abu Dhabi. This agreement brings together two of Abu Dhabi's industrial champions, using the expertise and skills of both Taqa and Adnoc to enhance the attractiveness of Ta'ziz projects and strengthen 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. Opportunities are available for local and international investors to participate across the value chain, including light manufacturing and services. Under the terms of the utilities facility agreement, Adnoc and Taqa will jointly develop the power, steam, cooling, demineralised and waste water services to enable chemicals projects within the Ta'ziz ecosystem. 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,