Agreement enhances investor value proposition for all of the TA’ZIZ industrial zones
Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (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 in the United Arab Emirates (UAE).
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.
Under the terms of the utilities facility agreement, ADNOC and TAQA will jointly develop the power, steam, cooling, demineralized and waste water services to enable chemicals projects within the TA’ZIZ ecosystem.
“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,” remarked Khaleefa Al Mheiri, Acting CEO, TA’ZIZ
“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,” said Farid Al Awlaqi, Executive Director of Generation, TAQA Group.
