Ta’ziz, the joint venture between Abu Dhabi National Oil Company (Adnoc) and ADQ, has awarded a $1.7 billion engineering, procurement, and construction (EPC) contract to South Korea’s Samsung E&A for a methanol project in the Ruwais industrial complex, Abu Dhabi.
Project Overview
Location: Ruwais Industrial Complex, Abu Dhabi
Scope: Construction of a methanol plant & a 1 million tonnes per annum (tpa) low-carbon ammonia facility
Contractor: Samsung E&A
Award Date: January 31, 2025
Strategic Importance
Decarbonization Efforts: Part of Adnoc’s long-term carbon reduction strategy.
Economic Growth: Strengthens UAE’s position as a leader in sustainable energy solutions.
Industrial Expansion: Supports the development of Ruwais as a key petrochemical hub.
Samsung E&A’s Role
Samsung E&A confirmed the award, stating:
“We have received a Letter of Award (LOA) on January 31 for the EPC of the Ta’ziz methanol project.”
This deal reinforces South Korea-UAE ties and highlights Ruwais’ growing status as a key industrial hub.
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