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Local investors to take up to 20% stake in AED15 bn TA’ZIZ Industrial Chemicals Zone projects

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ABU DHABI, 15th December, 2021 (WAM) — The Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) today signed investment agreements with eight United Arab Emirates -based investors, marking the first domestic Public Private Partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector.

The agreements comprise commitments by the investors to invest in an up to 20% stake in a portfolio of chemicals projects worth AED15 billion ($4 billion) within the TA’ZIZ Industrial Chemicals Zone, alongside Abu Dhabi National Oil Company (ADNOC), ADQ, and other global strategic partners in Ruwais, Abu Dhabi.

The signing of the investment agreements was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ.

Dr. Sultan Al Jaber, said, "We are delighted to welcome leading UAE-based investors to partner with ADNOC and ADQ to further accelerate the development of TA’ZIZ. This equity partnership, the first Public Private Partnership of its kind in Abu Dhabi’s chemicals industry, highlights ADNOC’s continued commitment to deepening our contributions to local industry and pioneering new, innovative means of collaboration with the UAE’s private sector."

"Through TA’ZIZ, our new domestic partners will have a stake in ongoing activities to enable additional domestic production of critical industrial raw materials, drive economic diversification and further grow the UAE’s advanced manufacturing base, supporting the ambitions outlined in the ‘Principles of the 50’ set out by our wise leadership. Looking ahead, we look forward to further growing a robust pipeline of investment and partnership opportunities at TA’ZIZ, welcoming leading investors who are ready to partner with us on the development of a globally competitive chemicals and industrial hub."

Mohamed Hassan Alsuwaidi said, "The agreements reflect our aim to strengthen collaboration with the private sector. Sustainable industrial growth ensures that the UAE is well positioned to attract foreign direct investment and grow its leadership across core sectors of the economy where ADQ is active. Through our broad portfolio, we can unlock the investment potential of TA’ZIZ on a global scale, while remaining firmly committed to driving value creation and supporting the sustainable development of Abu Dhabi’s economy."

The eight UAE-based investors who have signed agreements with TA’ZIZ include:

-Al Dhafra Co-operative Society.

-Al Nasser Holdings LLC.

-Alpha Dhabi Partners Holding LLC.

-Arab Development Establishment.

-Buhairan Limited Company LLC.

-Capital Investment LLC.

-Mazrui International and Mazrui Energy Services.

-Riverside Investments LLC.

The development of the TA’ZIZ industrial hub is expected to benefit from ADNOC and ADQ’s world-class infrastructure and high-quality feedstock, as well as the support of MoIAT. ADNOC’s operations are a critical engine for industrial growth in the UAE, with competitive feedstocks available to catalyze the growth of industries and manufacturing supply chains. Similarly, ADQ is advancing economic clusters around essential sectors, ensuring they are part of global value chains, facilitating growth and a broad portfolio of major enterprises that spans key sectors of a diversified economy, as well as enabling private sector investment in the UAE’s economy.

The TA’ZIZ Industrial Chemicals Zone has received significant interest from leading international and local investors alike. Partnership agreements have already been signed with Fertiglobe, a JV between ADNOC and OCI, Mitsui and GS Energy regarding a proposed blue ammonia production facility and with Reliance Industries, regarding a proposed JV for the development of an ethylene dichloride (EDC), chlor-alkali (CA), polyvinyl chloride (PVC) production facility. In addition, ADNOC has signed agreements to develop a utilities facility with TAQA and a world-scale port with ADNOC Logistics & Services and AD Ports Group to support and drive the growth of the TA’ZIZ Industrial Chemicals Zone. The TA’ZIZ Industrial Chemical Zone projects are currently in the design phase with project start up targeted in 2025.

The local investor agreements follow an exclusive briefing for the UAE’s leading investors, held at the ADNOC Business Centre in Abu Dhabi in September. The event unveiled TA’ZIZ’s unique investment proposition and was hosted in partnership with MoIAT.

Chemicals is a priority sector for "Operation 300bn", the UAE’s industrial growth strategy championed by MoIAT, which has the goal to raise the UAE industrial sector’s contribution to national gross domestic product (GDP) to AED 300 billion by 2031. Chemicals enable everyday life and represent an attractive sector given the projected global demand growth and the opportunity to create new supply chains through local production.

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Emirates

AECHRIL condemns Houthi attack on civil facilities in Abu Dhabi

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OSLO, 20th January, 2022 (WAM) — The Arab-European Centre of Human Rights and International Law (AECHRIL) has condemned the Houthi attack on civilian facilities in Abu Dhabi, which led to the death of three civilians and several injuries.

In a statement on Thursday, AECHRIL called on the international community to condemn these terrorist attacks, describing them as "a serious violation of international law".

Dr. Aihan Jaf, Secretary-General of AECHRIL, said the Houthis’ targeting of civilians and residential areas in the UAE and Saudi Arabia confirms it is a terrorist group seeking to compromise the security and stability of the region.

He also stated that the attack revealed the real intentions of the Houthi militia, which is to disrupt the peace process in Yemen and the efforts of the United Nations (UN) Special Envoy to the country.

Dr. Jaf called on the international community, including the UN and the Security Council, to hold the Houthis accountable for their crimes and take measures to bring their leaders to justice.

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Emirates

Omar Al Olama meets Colombian Minister of Science

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DUBAI, 20th January, 2022 (WAM) — Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, said that the UAE Government is advancing its international partnerships and cooperation with various governments, through sharing successful practices in various sectors.

He made this statement during his meeting with Tito José Crissien, Minister of Science, Technology and Innovation of Colombia, at the Colombian pavilion at Expo 2020 Dubai.

During the meeting, Al Olama stressed that the UAE is keen to share successful experiences and practices in advanced technologies and artificial intelligence (AI) with Colombia. It will help identify opportunities that will support the transformation to a sustainable knowledge-based economy, through deploying advanced technologies in business development.

He also lauded Colombia’s efforts to deploy advanced technologies in all areas of work and its role in teaching digital skills and developing human capital in this field.

In his meeting with Colombian officials, Al Olama presented the UAE Strategy for Artificial Intelligence and the country’s related achievements and major programmes and initiatives recently launched, most notably the Mohamed bin Zayed University of Artificial Intelligence, the first university of its kind in the world, and digital schools in developing countries which aim to end digital illiteracy.

The sides also discussed ways of encouraging the exchange of expertise and successful practices to face future challenges and utilising digital solutions and advanced technologies to establish new government action models that will support their comprehensive digital transformation.

The meeting then discussed ways of strengthening their partnerships and enhancing their cooperation in capacity building and exchanging expertise, in addition to holding training programmes for young students in Colombia.

The meeting presented Colombia’s achievements in identifying AI ethics and explained its sustainable development goals.

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Emirates

UAE announces 3,014 new COVID-19 cases, 1,067 recoveries, 4 deaths in last 24 hours

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ABU DHABI, 20th January, 2022 (WAM) — The Ministry of Health and Prevention (MoHAP) announced that it conducted 504,831 additional COVID-19 tests over the past 24 hours, using state-of-the-art medical testing equipment.

In a statement, the Ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified testing campaign, MoHAP announced 3,014 new coronavirus cases, bringing the total number of recorded cases in the UAE to 816,945.

According to the Ministry, the infected individuals are from various nationalities, are in a stable condition, and receiving the necessary care.

MoHAP also announced 4 deaths due to COVID-19 complications, bringing the total number of deaths in the country to 2,204.

The Ministry expressed its sincere condolences to the family of the deceased and wished COVID-19 patients a speedy and full recovery. It called on all members of the society to cooperate with health authorities, adhere to the instructions and physical distance to ensure the health and safety of all.

MoHAP also noted that an additional 1,067 individuals had fully recovered from COVID-19, bringing the total number of recoveries to 764,731.

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