TA'ZIZ awards $1.7 billion EPC contract for UAE's first methanol plant

TA'ZIZ, a collaborative venture between ADNOC and ADQ, has announced the awarding of a substantial EPC contract worth $1.7 billion to Samsung E&A, a South Korean contractor. This contract is for the construction of the UAE's inaugural methanol production facility, which is set to be established in Al Ruwais Industrial City, Abu Dhabi. The plant, expected to produce 1.8 million tonnes annually, will operate on clean energy and is projected to be completed by 2028. This initiative underscores the strategic aim of TA'ZIZ to reinforce the local chemicals value chain and contribute to economic diversification in the UAE. It comes on the heels of prior contracts exceeding $2 billion for infrastructure at the TAZIZ complex. The facility will not only produce methanol but also a range of other chemicals, reflecting a diversification into high-demand chemical products, many of which will be produced domestically for the first time.