The newly-formed Ta’ziz joint venture of Abu Dhabi state petroleum firm Adnoc and state holding company ADQ has outlined plans for the $5bn first phase of the Ruwais Derivatives Park that will be built alongside the existing downstream hub on the coast 240km west of Abu Dhabi city.

The development is a key part of Adnoc’s $45bn program to turn Ruwais into “the world’s largest integrated refining and petrochemicals complex” (MEES, 18 May 2018). This is part of a 2030 strategy to boost refining capacity by 60% to 1.44mn b/d and more than triple petchems capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). (CONTINUED - 708 WORDS)