Milestone supports disciplined execution of Ruwais methanol project
TA’ZIZ has announced at Make it in the Emirates 2026, that the TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and Proman, has achieved financial close on US$ 2bn (AED 7.34bn) financing for the UAE’s first world‑scale methanol plant in Al Ruwais Industrial City.
The transaction was significantly oversubscribed, underscoring strong global confidence in TA’ZIZ’s strategy and the long-term fundamentals of Abu Dhabi’s industrial growth platform.
“The strong global demand for this transaction reflects our disciplined execution, the strength of our partnerships, and the long-term fundamentals of the Ruwais industrial ecosystem,” stated Mashal Saoud Al-Kindi, CEO, TA’ZIZ.
Future global hub
“This positions Abu Dhabi as a future global hub for methanol production. Proman is proud to be party to this world class joint venture,” commented David Cassidy, Chief Executive, Proman.
The financing builds on a series of key milestones achieved across the methanol project, including Final Investment Decisions by ADNOC, TA’ZIZ and Proman, the award of the Engineering, Procurement and Construction (EPC) contract to Samsung E&A Co. Ltd., and the establishment of the TA’ZIZ Methanol Company.
Completion target
Construction of the TA’ZIZ methanol plant is progressing with completion targeted for 2028. Once operational, the plant will support the development of a domestic chemicals value chain, enabling local manufacturing, and reinforcing Abu Dhabi’s position as a globally competitive industrial hub.
The announcement supports Make it in the Emirates (MIITE) focus on delivery by securing the financing required to move strategic industrial projects from planning into construction.
