Five‑year facilities priced in line with international benchmarks

 Milestone supports disciplined execution of Ruwais methanol project 

Abu Dhabi, UAE – TA’ZIZ today announced at Make it in the Emirates 2026, that the TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and Proman, has achieved financial close on $2 billion (AED7.34 billion) financing for the UAE’s first world‑scale methanol plant in Al Ruwais Industrial City. The transaction was significantly oversubscribed, underscoring strong global confidence in TA’ZIZ’s strategy and the long-term fundamentals of Abu Dhabi’s industrial growth platform.

The financing package brings together 11 leading regional, European and Asian financial institutions, and includes a five-year $1.8 billion (AED6.6 billion) conventional syndicated loan and a $200 million (AED734 million) Islamic facility. Both facilities were priced in line with international benchmarks, reflecting the project’s strong credit profile and disciplined execution. 

Sumitomo Mitsui Banking Corporation (SMBC) acted as the exclusive financial advisor, while Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) served as bookrunners and mandated lead arrangers, designing the loan structure, leading the fundraising, taking the largest commitments, and coordinating the syndicate.

Mashal Saoud Al-Kindi, CEO of TA’ZIZ, said: “This landmark financing marks a defining moment for TA’ZIZ and for Abu Dhabi’s next phase of industrial growth. The strong global demand for this transaction reflects our disciplined execution, the strength of our partnerships, and the long-term fundamentals of the Ruwais industrial ecosystem.”

David Cassidy, Chief Executive of Proman, said: “This is a significant step forward for the project and a major advancement in our partnership with TA’ZIZ. The strong interest in this transaction underscores market confidence in methanol’s growth trajectory, both as a key chemical and as a cleaner burning fuel for transportation and power generation. It also positions Abu Dhabi as a future global hub for methanol production. Proman is proud to be party to this world class joint venture.”

The financing builds on a series of key milestones achieved across the methanol project, including Final Investment Decisions by ADNOC, TA’ZIZ and Proman, the award of the Engineering, Procurement and Construction (EPC) contract to Samsung E&A Co. Ltd., and the establishment of the TA’ZIZ Methanol Company.

Construction of the TA’ZIZ methanol plant is progressing with completion targeted for 2028. Once operational, the plant will support the development of a domestic chemicals value chain, enabling local manufacturing, and reinforcing Abu Dhabi’s position as a globally competitive industrial hub.

The announcement supports Make it in the Emirates (MIITE) focus on delivery by securing the financing required to move strategic industrial projects from planning into construction. MIITE enables the UAE to keep building advanced industry by converting investor confidence into committed capital that underpins world-scale production and long-term industrial growth.

The ‘Make it in the Emirates’ platform is taking place from 4-7 May at ADNEC Centre Abu Dhabi. It is the UAE’s flagship industrial event, designed to accelerate the country’s manufacturing ambitions.

About TA’ZIZ

TA’ZIZ is a critical enabler of the UAE’s industrial development and economic diversification ambitions. Founded in 2020 as a joint venture between ADNOC and ADQ, TA’ZIZ is a manufacturing, industrial services, logistics and utilities ecosystem that drives, supports, and enables the production of transition fuels and new products across the chemicals value chain.

Once completed in 2028, the TA’ZIZ Industrial Chemicals Zone will be set to place into the market 4.7 million tonnes per annum (mtpa) of chemicals. This includes 1 mtpa of ammonia, 1.8 mtpa of methanol and 1.9 mtpa of marketable products from its integrated polyvinyl chloride (PVC) complex. The PVC complex, which will produce PVC, ethylene dichloride (EDC), vinyl chloride monomer (VCM), and caustic soda, will be one of the world’s top three largest single‑site PVC complexes.

The first phase of the TA’ZIZ ecosystem is expected to contribute $50 billion (AED183 billion) to the UAE economy, creating 20,000 construction jobs and 6,000 operational roles while enabling local manufacturers to produce hundreds of new end‑products for the first time, supporting national industrial growth and ADNOC’s ambition to become a top‑three global chemicals player.

To find out more, visit: www.taziz.com.

For media enquiries, please contact: media@adnoc.ae

About TA’ZIZ Methanol Company

TA’ZIZ Methanol Company was established in 2024 following the execution of a Shareholder’s Agreement by TA’ZIZ and Proman.

The TA’ZIZ methanol plant will manufacture 1.8 million tonnes per annum (MTPA) of methanol, at the TA’ZIZ Industrial Chemicals Zone in Al Ruwais City in the Al Dhafra region of Abu Dhabi, offering close proximity to both feedstock and the world’s fastest growing economies.

About Proman

Proman is an integrated, global energy company, headquartered in Switzerland with operations in the United States, Trinidad and Tobago, Oman and Europe, and ongoing expansion projects in Mexico and the UAE. As the second largest global methanol producer and a leading ammonia company, Proman’s hydrogen rich products are integral to the energy transition. The company is also a leading producer of nitrogen-based fertilizers, which are used by farmers worldwide to ensure the healthy plant growth and crop yields needed to feed a growing global population.