Methanol Chemicals – known as Chemanol – a Saudi Arabian producer of methanol and derivatives, has signed agreements to acquire controlling stakes in two compatriot chemical companies.
Abu Dhabi Chemicals Derivatives, also known as Ta’ziz, has signed a shareholder agreement with fertilizer producer Fertiglobe, gas provider GS Energy and Japanese trading group Mitsui & Co to develop a 1 million t/y low-carbon ammonia plant at its proposed industrial chemicals complex in Ruwais, Abu Dhabi.
SABIC, OQ and Kuwait Petroleum International (KPI) have agreed to jointly develop a petrochemical complex in Duqm, Oman, reviving a project that stalled in late 2020 because of the coronavirus pandemic.
Ta’ziz, a joint venture between Abu Dhabi National Oil Company (ADNOC) and compatriot holding company ADQ, will invest more than $5 billion in seven chemical anchor projects and related infrastructure within the planned Ruwais Derivatives Park in Abu Dhabi.
