Equities
Ta'Ziz, Alpha Dhabi Holding to Invest $10 Billion for Industrial Chemicals Production in UAE
Alpha Dhabi Holding (ADX:ALPHADHABI) and Ta'Ziz, a joint venture between ADQ and Abu Dhabi National Oil Co., d/b/a Adnoc, signed a collaboration agreement to strengthen the United Arab Emirates' domestic production of new industrial chemicals.The partnership will invest $10 billion in the production of up to 14 new chemicals, with a targeted additional chemical capacity of 2.2 million tonnes per annum at Ta'Ziz's facility in Al Ruwais Industrial City, Abu Dhabi, according to a Wednesday release.The new chemicals, which are used across a wide range of sectors, could substitute key products that are currently imported into the UAE and help improve its local supply chain resilience.
ADX:ALPHADHABI