Adnoc Logistics & Services (Adnoc L&S) and TA’ZIZ announced a 50-year agreement to establish a dedicated chemicals port at the TA’ZIZ Industrial Chemicals Zone in Al Ruwais.
Adnoc L&S will
build, own and operate the port, while TA’ZIZ will leverage the facility to
efficiently export chemicals and their derivatives.
Valued at over $300
million, the port is scheduled for completion in Q4 2026 and is projected to
generate more than $1.3 billion in revenue for Adnoc L&S over the first 27
years.
TA’ZIZ is developing
the UAE’s first integrated chemicals ecosystem and, by the end of 2028, will be
producing 4.7 million tonnes per annum of chemicals, including methanol,
low-carbon ammonia, caustic soda, ethylene dichloride (EDC), vinyl chloride
monomer (VCM) and polyvinyl chloride (PVC).
Abdulkareem Al Masabi,
CEO of Adnoc L&S, said, “This strategic agreement for first-of-its-kind
dedicated chemicals port will provide Adnoc L&S long-term, predictable
revenue while supporting TA’ZIZ’s growing chemicals ecosystem. The project
demonstrates our ability to expand into high-growth sectors and deliver
sustainable value for shareholders, while advancing the UAE’s industrial growth.”
TA’ZIZ is a
cornerstone of Adnoc’s ambition to strengthen the UAE’s chemical value chain
and drive economic diversification via industrial development.
Expected to contribute
billions of dollars to the UAE economy and create thousands of jobs, TA’ZIZ
will unlock hundreds of new end-products across critical industries including
construction, agriculture and healthcare, it said.
Mashal Al-Kindi, CEO
of TA’ZIZ, said, “With TA’ZIZ strategically located close to fast-growth
markets in Asia and Africa, this dedicated chemicals port will enable us to
export our products efficiently and at scale, supporting the UAE’s ambition to
establish a world-scale chemicals industry. Partnering with Adnoc L&S on
this important project will ensure the port is built, operated and scaled to
enable reliable logistics services and revenue for TA’ZIZ.” -TradeArabia News Service