TA’ZIZ & Proman Partner to develop methanol facility in Ruwais
Abu Dhabi National Oil Company (ADNOC) signed an agreement with Proman to develop the United Arab Emirates’(UAE) first world-scale methanol production facility at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. Under the terms of the agreement, Abu Dhabi Chemicals Derivatives Company RSC Ltd. (TA'ZIZ) and Proman will construct a natural gas to methanol facility with an anticipated annual capacity of up to 1.8 MMtpy. The project is subject to relevant regulatory approvals.
TA’ZIZ is a JV between ADNOC and ADQ, an Abu Dhabi-based investment and holding company. The proposed partnership will capitalize upon ADNOC’s value proposition for downstream petrochemicals, ADQ’s diversified portfolio and Proman’s construction and operational expertise as the world’s second largest methanol producer.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC said, “We are pleased to welcome Proman as a strategic partner as we develop the UAE’s first domestic methanol production facility. This world-scale plant advances the TA’ZIZ mission to diversify the UAE’s economy and accelerate industrial development, by enabling local supply chains through the production of new chemicals in the UAE.
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