Published on 25th November 2021
The logistics and services subsidiary of Abu Dhabi National Oil Company and AD Ports Group have agreed to build a new port and associated facilities in the Ta'ziz chemical manufacturing cluster in Ruwais.
The two corporations intend to form a joint venture and develop the port with an international operator.
The Ta'ziz hub is being prioritized for chemical and speciality product manufacturing and development.
International and local investors have been encouraged to join in the development of the site's initiatives, which will comprise a chemicals zone and a light industrial area that will house enterprises that use chemicals manufactured in the area.
"The new port will consolidate the UAE’s competitiveness as an international supply chain hub for energy and industry and further positions Ta’ziz as the preferred partner for investing in the growth of the UAE’s advanced manufacturing base," said Captain Abdulkareem Al Masabi, the chief executive officer of Adnoc Logistics & Services.
Adnoc and Abu Dhabi's holding firm, ADQ, announced plans to partner on projects totaling $5 billion at the Ruwais Derivatives Park in November of last year.
Ta'ziz plans to invest $3 billion in chemical projects, while $2 billion will be spent on the creation of a port and infrastructure in Ruwais.
Large-scale berths and accompanying infrastructure, as well as loading and unloading capabilities, will be available at the new port. Ten product tanks and a feedstock storage tank will be part of the infrastructure.
The Ta'ziz center will contain three industrial zones for seven chemical projects, as well as the capacity to convert them into consumable items and host service businesses.
"By bringing together our respective expertise to build vital trade infrastructure, we are boosting industrial investment flows to the UAE and helping accelerate Abu Dhabi’s economic growth and industrialisation," said Captain Mohamed Al Shamsi, group chief executive of AD Ports Group.
The seven chemicals projects at the Ta'ziz hub are in the design phase. Blue ammonia, ethylene dichloride, chlor-alkali, and polyvinyl chloride will be developed in the production center.
The site's utilities infrastructure will be developed by Adnoc and Taqa, the Abu Dhabi National Energy Company.