TA'ZIZ has marked a significant milestone by awarding a $1.7 billion contract to SAMSUNG E&A for the construction of one of the world’s largest methanol plants in Al Ruwais Industrial City, Abu Dhabi. The plant, once completed, will produce 1.8 million tons per annum (mtpa) of methanol and is set to become one of the most energy-efficient facilities of its kind globally.
This move is part of TA'ZIZ’s strategy to boost the UAE’s economic diversification by establishing new domestic chemical value chains. The project aims to position the UAE as a major player in advanced methanol production by fostering collaboration and creating world-scale facilities.
"In its initial phase, TA'ZIZ plans to produce 4.7 mtpa of chemicals by 2028, including methanol, low-carbon ammonia, PVC, ethylene dichloride, vinyl chloride monomer, and caustic soda," stated Mashal Saoud Al-Kindi, the CEO of TA'ZIZ.
The plant will be powered by clean energy sourced from the grid upon completion in 2028, further solidifying its position as a trailblazer in sustainable chemicals production. This endeavor paves the way for the UAE to strengthen its foothold in the global chemicals sector, aligning with ADNOC's aspiration to lead in this industry.
Furthermore, the construction of the methanol plant signifies a crucial step in realizing TA'ZIZ’s vision of establishing a world-scale integrated chemicals ecosystem in Abu Dhabi’s Al Dhafra region. By producing several chemicals for the first time in the UAE, TA'ZIZ is actively contributing to expanding the local chemicals value chain and fostering economic diversification through industrialization.
President and CEO of SAMSUNG E&A, Hong Namkoong, expressed the company's pride in being selected for this project, emphasizing a mutual commitment to advancing industrial innovation, diversifying the UAE economy, and promoting sustainable growth. Upon completion, the methanol plant will stand as the first facility of its kind in the UAE, ushering in a new era of chemical production in the region.