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Issue 23/2020 - ADNOC to invest in chemical projects

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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ADNOC will invest in chemical projects

Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Development Holdings (ADQ) announced plans to invest more than US$5 billion in seven chemical projects and related infrastructure
in a derivatives park.
ADNOC said the first phase of development of the park will produce chlor-alkali products, dichloroethylene, maleic anhydride, methanol, ammonia, isopropanol and elastomers
.
The projects are scheduled to start production in 2025 with a total investment expected to exceed $3 billion
.
It is reported that most of the chemicals will be produced
for the first time in the UAE.
These investments will be made
through ADNOC and ADQ's recently formed Ta'ziz Joint Venture (JV).

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