TA’ZIZ Secures $2B Financing for UAE’s First World-Scale Methanol Plant
- Secured $2.0 billion (AED7.34 billion) financing for UAE's first world-scale methanol plant in Al Ruwais.
- Package includes a five-year $1.8 billion conventional syndicated loan and a $200 million Islamic facility arranged by an 11-bank syndicate.
- EPC contract awarded to Samsung E&A Co. Ltd.; construction underway with completion targeted for 2028.
- Project is a TA'ZIZ-Proman joint venture following Final Investment Decisions by ADNOC, TA'ZIZ and Proman.
Financing
TA'ZIZ Methanol Company closed $2.0 billion (AED7.34 billion) in financing for the Al Ruwais world‑scale methanol plant, comprising a five‑year $1.8 billion conventional syndicated loan and a $200 million Islamic facility, arranged by an 11‑bank syndicate and priced in line with international benchmarks.
Advisors and arrangers
Sumitomo Mitsui Banking Corporation acted as exclusive financial advisor; Abu Dhabi Commercial Bank and First Abu Dhabi Bank were bookrunners and mandated lead arrangers, designing the structure, leading the fundraising and taking the largest commitments.
Project delivery
The TA'ZIZ–Proman joint venture reached financial close following Final Investment Decisions by ADNOC, TA'ZIZ and Proman; Samsung E&A Co. Ltd. was awarded the EPC contract and construction is underway with completion targeted for 2028.
Industrial impact
The plant is intended to develop a domestic chemicals value chain, enable local manufacturing and expand Abu Dhabi's methanol production capacity for chemical feedstock and fuel applications.
Source: ADNOC