The strategy is an ambitious downstream and industry growth plan and will create new opportunities for companies to grow, develop and to thrive in the UAE
Abu Dhabi National Oil Company (Adnoc) has reiterated its commitment to drive industrial growth and diversification through its ambitious downstream and industry growth programme, supporting the Ministry of Industry and Advanced Technology’s (MoIAT) ‘Make it in the Emirates’ strategy.
Petrochemical, refining and gas growth projects are currently under construction, with a number of projects also recently completed across the Downstream and industry portfolio, said a Wam news agency report.
Adnoc is gearing up for growth with Ta’ziz, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, with investment in excess of AED18 billion ($4.9 billion) and a number of further growth projects in the Downstream and industry sector. In addition, a blue hydrogen and ammonia business is under development to capture the emerging global demand for low carbon fuels.
The commitment builds on Adnoc’s flagship In County-Value (ICV) programme, which has driven in excess of AED76 billion back into the UAE economy.
Adnoc’s renewed commitment in driving industrial growth in the UAE comes as the front end engineering and design (FEED) tenders for Ta’ziz, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, have been issued. .
Khaled Salmeen, Executive Director of Adnoc’s Downstream, Industry, Marketing & Trading Directorate, said: 'Adnoc’s downstream and industry operations are a critical engine of industrial growth in the UAE. Our operations provide competitive fuels and feedstocks to enable the Nation’s industries and manufacturing supply chains. With our ambitious growth plans, Adnoc is proud to support the Ministry of Industry and Advanced Technology’s ‘Make it in Emirates’ strategy, creating new opportunities for companies to grow, develop and to thrive in the UAE.'
Adnoc continues to develop its Ruwais refinery, the world’s fourth largest, including the AED13 billion ‘Crude Flexibility Project’ and AED2 billion ‘Waste Heat Recovery’ project, which are both under construction. By investing in these capital projects, Adnoc will continue to ensure the provision of secure and competitive fuels and feedstock to local industries.
Expansion of the World-scale polyolefin production at Borouge continues, with the fifth polypropylene unit now more than 90 percent complete. The unit will have the capacity to make polypropylene for approximately 600,000 km of polypropylene pipes per annum, enough to circle the Earth 15 times.