The recently-formed Ta’ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ is pushing ahead with its $5bn plan to develop the Ruwais Derivatives Park in western Abu Dhabi. Ta’ziz is in discussions with potential partners at the park, which is slated to start operations in 2025 (MEES, 13 November 2020).

Adnoc last week announced that “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.” MEES understands that FEED contracts are to be awarded during Q2, with a final investment decision on the derivatives projects and related essential infrastructure expected to be taken during 2022. (CONTINUED - 772 WORDS)