Eight UAE investors to take up to 20% stake in Adnoc's Ta’ziz projects
Abu Dhabi Chemicals Derivatives Company, known as Ta’ziz, signed an agreement with eight UAE-based investors who will invest up to a 20 per cent stake in a portfolio of projects worth Dh15 billion ($4bn) in its Industrial Chemicals Zone in Ruwais.
The deal marks the first domestic public-private partnership (PPP) in Abu Dhabi’s downstream and petrochemicals sector, Adnoc said in a statement on Wednesday.
The local investors will be investing alongside Abu Dhabi National Oil Company, ADQ, and other global strategic partners.
The eight UAE investors include Al Dhafra Co-operative Society, Al Nasser Holdings, Alpha Dhabi Partners Holding, Arab Development Establishment, Buhairan Limited Company, Capital Investment, Mazrui International and Mazrui Energy Services and Riverside Investments.
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