Recently, Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi development holding company (ADQ) announced plans to invest more than $5 billion in seven chemical projects and related infrastructure in a derivatives park. According to ADNOC, the first phase of the park's development will produce chlor alkali products, dichloroethylene, maleic anhydride, methanol, ammonia, isopropanol and elastomers. These projects will be built on a world scale and will have the opportunity to involve more investors and partners. These projects are planned to be put into operation in 2025, and the total investment is expected to exceed 3 billion US dollars. It is understood that most of the chemicals will be produced for the first time in the UAE. These investments will be made through the ta'ziz joint venture (JV) recently established by ADNOC and ADQ. According to ADNOC, the base is close to the existing ruwais petrochemical complex. The derivatives Industrial Park will make full use of the company's raw materials and comprehensive downstream assets advantages, as well as the unique logistics and transportation links to form a strong synergy effect.
Source: Chemical Network
