TA'ZIZ closes $1.39 billion financing for Ruwais ammonia and terminal projects
- Total financing closed: $1.39 billion (AED 5.10 billion) for two Ruwais projects.
- TA'ZIZ Terminal secured more than $928 million (AED 3.41 billion), including $225 million (AED 826 million) of Islamic financing.
- TA'ZIZ Ammonia raised over $460 million (AED 1.69 billion) for a 1 million tonnes per annum (mtpa) ammonia facility developed with Fertiglobe, Mitsui and GS Energy.
- EPC progress: ammonia EPC (Tecnimont) is more than 90% complete; terminal EPC (Rotary Engineering) is around 70% complete.
Financing close
TA'ZIZ announced at ADIPEC 2026 the financial close of $1.39 billion (AED 5.10 billion) for two strategic projects in Ruwais. The transactions were oversubscribed. These deals follow a $2 billion (AED 7.34 billion) financing secured in April for a methanol project, bringing total portfolio financing to more than $3.39 billion (AED 12.44 billion).
Projects and partners
The TA'ZIZ Terminal is a joint venture between ADNOC and Advario Star Energy and will provide liquid chemical storage and export capability for the TA’ZIZ Industrial Chemicals Zone. The TA'ZIZ Ammonia project is a joint venture between TA'ZIZ, Fertiglobe, Mitsui & Co., Ltd. and GS Energy Corporation and will deliver a 1 mtpa ammonia facility.
Advisors and lenders
MUFG acted as financial advisor on the Terminal financing, assembling nine regional and international banks in a long-term non-recourse structure. SMBC was exclusive financial advisor for the Ammonia financing, arranging a six-year term facility with seven banks from China, Kuwait, Spain and Singapore.
Construction status
Construction and development continue across the TA’ZIZ portfolio: ammonia EPC works awarded to Tecnimont are more than 90% complete, while terminal EPC works awarded to Rotary Engineering are around 70% complete.
Source: ADNOC