Page 17 - DMEA Week 19 2022

DMEA NEWS IN BRIEF DMEA

where it has been active since 1927. Today it Private Partnership (PPP) in Abu Dhabi’s consumer products including pipes, windows,
has operations in 47 African countries. It has downstream and petrochemicals sector. cables, films and flooring.
21,000 employees. Khaleefa Yousef Al Mheiri, TA’ZIZ TA’ZIZ comprises three zones, the
In a statement last month, the company Acting Chief Executive Officer, said: “We first of which is an Industrial Chemicals
said it was awaiting regulatory approval to are delighted to welcome Shaheen as a Zone that will host chemicals production,
sell its African operations to MSC Group strategic partner in TA’ZIZ. This strategic with seven world-scale projects already
(Switzerland) for $6.3bn and expected to agreement further consolidates TA’ZIZ’s in the design phase. The second is a Light
complete the transaction by the end of the first position as the sought-after partner for local Industrial Zone, which will be home to
quarter of 2023. and international investment in the UAE’s downstream conversion industries that will
In the same deal, MSC will also be chemicals industry. The partnership supports convert the outputs of the Chemicals Zone
acquiring the company’s terminal operations our national strategy to drive the growth into consumable products. The third is an
in Haiti, India and East Timor. and diversification of the country’s industrial Industrial Services Zone that will house a
NEWSBASE base, strengthen domestic supply chains and variety of companies providing the services
enable the private sector to “Make it in the required by the TA’ZIZ industrial zones and
Emirates†, in line with the leadership’s wise the wider Ruwais Industrial Complex.
PETROCHEMICALS directives.†All projects in the TA’ZIZ Industrial
The chemicals to be produced by the Chemicals Zone are subject to customary
Shaheen joints TA’ZIZ JV TA’ZIZ EDC and PVC project have a wide regulatory approvals.
range of industrial applications and will create
ADNOC
Abu Dhabi Chemicals Derivatives Co. opportunities for export, as well as providing
(TA’ZIZ) announced this week that Shaheen local industry with a source of critical raw
Chem Holdings Investment LLC (Shaheen), materials manufactured in the UAE for the TERMINALS & SHIPPING
will join the proposed TA’ZIZ and Reliance first time.
Industries Limited TA’ZIZ EDC & PVC joint Walid Azhari, Managing Director of Yemen’s Two-Month Truce
venture, that will construct and operate a Shaheen, said: “We are honored to partner
world-scale Chlor-Alkali, Ethylene Dichloride with TA’ZIZ and Reliance in this world class Revives LNG Export Hopes
(EDC) and Polyvinyl Chloride (PVC) facility, industrial plant which will include the largest
at the TA’ZIZ Industrial Chemicals Zone, in Chlor Alkali plant in the world. We are A truce in Yemen has generated renewed
Ruwais. looking forward to working with our partners speculation that a restart of LNG operations is
The TA’ZIZ Industrial Chemicals Zone is during the development, construction and achievable. TotalEnergies says first output will
a joint venture between ADNOC and ADQ. operation stages of the project. This project take six months from any such decision.
With an investment of more than $2 billion will be the cornerstone for many exciting The world is ready to grab every available
(AED7.34 billion), the project will supply local downstream opportunities which will create gas molecule and war-torn Yemen’s prime
manufacturers, replacing chemicals currently a whole new industrial cluster in the UAE, minister Maeen Abdulmalik wants to seize
imported, while also exporting to meet in line with the Abu Dhabi Economic Vision the opportunity. His statement last month that
growing demand for these chemicals globally. 2030†. there are “ongoing efforts†to bring back
TA’ZIZ will provide new opportunities for Investment in the production of chemicals the two-train 6.7mn t/y Yemen LNG export
local manufacturers, supporting growth of is a priority for the UAE’s industrial growth facility at Balhaf has revived hopes of gas
their knowledge and capabilities, catalyzing strategy, championed by the Ministry of exports and revenues. The plant has been shut
local industrial development. Industry and Advanced Technology, which since April 2015 amid Yemen’s civil war.
Shaheen brings extensive knowledge of aims to raise the UAE’s industrial sector’s The sentiment is bolstered by the fact that
the local market and joins the project with a contribution of national GDP to AED300 a two-month UN brokered truce between
focus on utilizing production for use in local billion by 2031. Chemicals are an attractive the Saudi-backed Yemeni government and
supply chains. The agreement marks the first sector given projected demand growth Iran-affiliated Houthi rebels has held since 2
direct investment by a privately-owned United globally and the opportunity local production April. Mr Abdulmalik forecasts “$3-5bn in
Arab Emirates (UAE) company in the TA’ZIZ creates to grow the UAE’s industrial base. revenues†if the terminal comes back online
Industrial Chemicals Zone. It also follows Chlor-Alkali enables the production of but says “it may take months.â€
the investment agreements between TA’ZIZ caustic soda, crucial to the production of MEES
and eight UAE-based investors in December aluminum, and EDC is used in the production
2021, which marked the first domestic Public of PVC for a wide range of industrial and

Week 19 12•May•2022 www. NEWSBASE .com P17