TA’ZIZ announced at the Make it in the Emirates 2026 that the TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and Proman, achieved financial close on a $2 billion (AED 7.34 billion) financing package for the UAE’s first world-scale methanol production plant in Al Ruwais Industrial City. The financing deal was significantly oversubscribed, highlighting strong international investor confidence in TA’ZIZ’s industrial growth strategy and Abu Dhabi’s expanding manufacturing ecosystem.
Global Banks Back Landmark Industrial Project
The financing package includes participation from 11 leading financial institutions across the Middle East, Europe, and Asia. The funding structure consists of a five-year $1.8 billion (AED 6.6 billion) conventional syndicated loan along with a $200 million (AED 734 million) Islamic financing facility. Both financing arrangements were priced in line with international benchmarks, reflecting the project’s strong financial profile and disciplined execution strategy. Sumitomo Mitsui Banking Corporation (SMBC) acted as the exclusive financial advisor for the transaction. Meanwhile, Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) served as bookrunners and mandated lead arrangers, leading the fundraising process and coordinating the lender syndicate.
TA’ZIZ Highlights Abu Dhabi’s Industrial Growth Vision
Mashal Saoud Al-Kindi, CEO of TA’ZIZ, described the financing as a defining milestone for both TA’ZIZ and Abu Dhabi’s next phase of industrial expansion. He stated that the strong global demand for the financing transaction reflects the company’s disciplined execution approach, strategic partnerships, and the long-term strength of the Ruwais industrial ecosystem.
Proman Sees Strong Growth Potential for Methanol Market
David Cassidy, Chief Executive Officer of Proman, said the financing marks a major advancement for the joint venture and reinforces market confidence in methanol’s long-term growth potential. He noted that methanol is increasingly gaining importance not only as a critical industrial chemical but also as a cleaner-burning fuel alternative for transportation and power generation applications. Cassidy added that the project positions Abu Dhabi as a future global hub for methanol production and strengthens the strategic partnership between TA’ZIZ and Proman.
Project Construction Advances Toward 2028 Completion
The financing milestone builds on several major developments already achieved for the methanol project. These include Final Investment Decisions (FIDs) by ADNOC, TA’ZIZ, and Proman, as well as the award of the Engineering, Procurement, and Construction (EPC) contract to Samsung E&A Co. Ltd. Construction activities for the methanol facility are currently progressing, with project completion targeted for 2028. Once operational, the plant is expected to support the development of a domestic chemicals value chain, strengthen local manufacturing capabilities, and reinforce Abu Dhabi’s position as a globally competitive industrial and petrochemical hub.
Make it in the Emirates Supports Industrial Expansion
The announcement aligns closely with the objectives of Make it in the Emirates 2026, which focuses on accelerating industrial development and advancing the UAE’s manufacturing ambitions. By securing financing for large-scale industrial projects, the initiative aims to convert investor confidence into committed capital that supports long-term industrial growth and world-scale production capabilities across the UAE. As per the press release, the “Make it in the Emirates” platform is being held from May 4–7 at the ADNEC Centre Abu Dhabi and continues to serve as the UAE’s flagship industrial investment and manufacturing event.
