Abu Dhabi Chemical Derivatives and methanol producer Proman have signed an agreement to develop the first world-scale methanol production facility in the UAE. The new methanol plant will be built in the TA'ZIZ Industrial Chemicals Zone in Al Ruways Industrial City, Abu Dhabi.
TA'ZIZ Acting CEO Khaleefa Yousef Al Mheiri said the agreement continues to build momentum at TA'ZIZ, advancing our mission to diversify the UAE's economy and accelerate industrial development. Our collaboration with Proman underscores the attractiveness of the UAE as a destination for international partners and investors as we advance our plans for world-scale methanol production at Al Ruways.
New chemicals in the UAE will enable new local supply chains and support long-term industrial growth in Abu Dhabi's private sector. TA'ZIZ, comprising ADNOC and ADQ, is said to promote and expand Al Ruways Industrial City, as well as Abu Dhabi's wider chemical, manufacturing and industrial sectors. The total investment in the first phase of the project is expected to exceed US$5 billion, and most of the chemicals will be produced in the UAE for the first time.
The new methanol plant is in line with the goals of the UAE Ministry of Industry and Advanced Technology to diversify the UAE economy and promote industrial development. TA'ZIZ is also working with Reliance Industries and Shaheen Chem to advance large-scale dichloroethane, chlor-alkali and PVC production facilities.
In addition, Fertiglobe, Mitsui & Co. and GS Energy are also working with TA'ZIZ to develop a large-scale low-carbon ammonia synthesis facility. Richard Brink, Managing Director of Proman UAE, said: "We welcome the Shareholders' Agreement as an important next step towards Abu Dhabi's first world-scale methanol plant.
As Proman's first investment in the UAE, we are working hard to ensure that this proposed project will be one of the most technologically advanced and low-emission natural gas-to-methanol facilities in the world. With the growing global demand for methanol as a clean fuel, the agreement demonstrates the great potential of the TA'ZIZ Industrial Chemicals Zone and Abu Dhabi's growing downstream industries.Editor/XingWentao
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