ADNOC Commits to expand Downstream, Industry Operations and ICV Program
The Abu Dhabi National Oil Company (ADNOC) reiterated its commitment to drive industrial growth and diversification through its ambitious downstream and industry growth program, supporting the Ministry of Industry and Advanced Technology’s (MoIAT) ‘Make it in the Emirates’ strategy.
Petrochemical, refining and gas growth projects are currently under construction, with a number of projects also recently completed across the Downstream and industry portfolio.
ADNOC is gearing up for growth with TA’ZIZ, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, with investment in excess of AED 18 billion and a number of further growth projects in the Downstream and industry sector. In addition, a blue hydrogen and ammonia business is under development to capture the emerging global demand for low carbon fuels.
The commitment builds on ADNOC’s flagship In County-Value (ICV) program, which has driven in excess of AED 76 billion back into the UAE economy.
ADNOC’s renewed commitment in driving industrial growth in the UAE comes as the Front End Engineering and Design (FEED) tenders for TA’ZIZ, the world-scale chemicals production hub and industrial ecosystem based in Ruwais, have been issued.
Mr. Khaled Salmeen, Executive Director of ADNOC’s Downstream, Industry, Marketing & Trading Directorate, said: “ADNOC’s downstream and industry operations are a critical engine of industrial growth in the UAE. Our operations provide competitive fuels and feedstocks to enable the Nation’s industries and manufacturing supply chains. With our ambitious growth plans, ADNOC is proud to support the Ministry of Industry and Advanced Technology’s ‘Make it in Emirates’ strategy, creating new opportunities for companies to grow, develop and to thrive in the UAE”.
ADNOC currently supplies over two-thirds of the UAE’s industrial energy needs, supporting and enabling the growth of local industries. The company’s focus on driving industrial growth through its downstream business will see significant investments across its chemical, polyolefin, refining and hydrogen portfolios.
Information Source: Read Full Release
Press Release by: ADNOC’