- $2 billion financing secured for Al Ruwais world-scale methanol plant, comprising a five-year $1.8bn conventional loan and a $200m Islamic facility.
- Financing was syndicated among 11 regional, European and Asian banks, with SMBC as exclusive financial advisor and ADCB and FAB as bookrunners and mandated lead arrangers.
- EPC contract awarded to Samsung E&A Co. Ltd.; Final Investment Decisions completed by ADNOC, TA'ZIZ and Proman.
- Construction is underway with commercial operations targeted for 2028 to produce methanol and support a domestic chemicals value chain.
Financing
TA’ZIZ Methanol Company reached financial close on $2 billion for a world-scale methanol plant in Al Ruwais: a five-year $1.8 billion conventional syndicated loan plus a $200 million Islamic facility, priced in line with international benchmarks.
Syndicate and advisors
The package was significantly oversubscribed and syndicated among 11 regional, European and Asian banks; Sumitomo Mitsui Banking Corporation acted as exclusive financial advisor, while Abu Dhabi Commercial Bank and First Abu Dhabi Bank served as bookrunners and mandated lead arrangers.
Project status and contracts
Final Investment Decisions have been taken by ADNOC, TA’ZIZ and Proman; the EPC contract was awarded to Samsung E&A Co. Ltd., and the TA’ZIZ Methanol Company has been established to deliver the project.
Schedule and purpose
Construction is underway with commercial operations targeted for 2028; the plant will produce methanol and is intended to support development of a domestic chemicals value chain and local manufacturing capabilities.
