Abu Dhabi JV to spend $5 billion on derivatives
Abu Dhabi The TA’ZIZ venture was formed in July by the NOC, with 60%, and state holding company ADQ, with 40%.
The mega-investment comprises USD 3 billion in prospective chemicals manufacturing projects alongside USD 2 billion devoted to building a port, utilities and infrastructure.
The partners said TA’ZIZ will “act as a catalyst for the UAE’s economic diversification and technology-led growth.”
For more on ADNOC’s strategy, read our latest interview with CEO Dr. Sultan Ahmed Al Jaber.
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