Prime Highlights :
- Al Kindi called the financing a defining moment for TA’ZIZ, citing strong global confidence in Abu Dhabi’s Ruwais industrial ecosystem.
- Cassidy said the deal positions Abu Dhabi as a future global methanol hub, driven by methanol’s dual role as a chemical and cleaner fuel.
Key Facts :
- TA’ZIZ is a joint venture between ADNOC and ADQ, focused on driving Abu Dhabi’s large-scale industrial expansion.
- The $2 billion package combines a $1.8 billion syndicated loan and $200 million Islamic facility, with the plant due in 2028.
Background :
Abu Dhabi-based TA’ZIZ announced in the first week of May at the Make it in the Emirates 2026 event that its joint venture with Swiss firm Proman has closed $2 billion in financing for the UAE’s first world-scale methanol plant at Al Ruwais Industrial City. The transaction drew strong global interest and was significantly oversubscribed.
The financing package brings together 11 regional, European, and Asian financial institutions. It includes a five-year $1.8 billion conventional syndicated loan alongside a $200 million Islamic facility. Sumitomo Mitsui Banking Corporation served as the exclusive financial advisor, while Abu Dhabi Commercial Bank and First Abu Dhabi Bank acted as bookrunners and mandated lead arrangers.
TA’ZIZ is a major industrial joint venture between Abu Dhabi National Oil Company and investment group ADQ. The methanol plant forms a key part of Abu Dhabi’s broader industrial growth strategy, with construction already underway and completion targeted for 2028.
TA’ZIZ CEO Mashal Saoud Al Kindi called the financing a defining moment for the company and for Abu Dhabi’s next phase of industrial development. He said strong global demand for the transaction reflected disciplined execution and confidence in the Ruwais industrial ecosystem.
Proman CEO David Cassidy said the deal marks a significant step forward and underlines market confidence in methanol’s growth potential as both a key chemical and a cleaner fuel for transportation and power generation. He added that the project positions Abu Dhabi as a future global hub for methanol production.
Once operational, the plant will support a domestic chemicals value chain, enable local manufacturing, and strengthen Abu Dhabi’s standing as a globally competitive industrial hub.
