Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company (Taqa) have signed an agreement for the constructon of a utilities facility for Ta’ziz, the new world-scale chemicals production hub and globally competitive industrial ecosystem currently under development at Ruwais.
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.
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.
Acting CEO Khaleefa Al Mheiri 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, we are well-placed to further strengthen our position as a world-scale chemicals and industrial hub and top destination for foreign direct investment, leveraging technology to further grow the UAE’s advanced manufacturing base," stated Al Mheiri.
Contracts have been awarded for the first stages of development for the Ta’ziz site, and work is already under way. This includes geotechnical and topographical surveys, a marine bathymetric survey and health, safety and environment impact assessments, which have already been completed.
The surveys will enable civil engineering works to prepare the Ta’ziz site for construction as well as dredging for an entirely new port facility.
Tenders for the front-end engineering and design (Pre-Feed/Feed) of the seven Ta’ziz chemicals derivatives projects have been awarded. Final investment decisions for the projects and awards of related EPC contracts are being targeted for 2022.
According to him, 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, he added.
Farid Al Awlaqi, Executive Director of Generation at Taqa Group, said: "We look forward to partnering with Adnoc on such an important project for Abu Dhabi that will be serving a multitude of industries, with both local and international market players."
"As a fully integrated utilities company, based here in Abu Dhabi, being able to provide such critical services for Ta’ziz is at the core of what we do at Taqa. In addition to supporting critical infrastructure development in our home market, this project advances the economic vision for the emirate and the UAE," he added.-TradeArabia News Service