TA’ZIZ Methanol Company, a joint project among TA’ZIZ and Proman, has reached financial close on a $2-billion (AED 7.34-billion) financing deal to construct the UAE’s first world-scale methanol plant in Al Ruwais Industrial City.
Declared at Make it within the Emirates 2026, the transaction was closely oversubscribed, signaling robust worldwide investor interest and confidence in Abu Dhabi’s industrial growth strategy.
The financing package draws in 11 main financial institutions across the Middle East, Europe, and Asia. It consist a 5-year $1.8 billion syndicated conventional loan and a $200-million Islamic facility. Pricing was aligned with global benchmarks, demonstrating disciplined structuring and the venture’s robust credit fundamentals.
Sumitomo Mitsui Banking Corporation operated as exclusive financial advisor, at the same time as Abu Dhabi Commercial Bank and First Abu Dhabi Bank acted as bookrunners and mandated lead arrangers, supporting the syndicate and driving the fundraising process.
Leadership at TA’ZIZ framed the milestone as a pivotal moment for Abu Dhabi’s industrial future.
Mashal Saoud Al-Kindi stated: “This landmark financing marks a defining moment for TA’ZIZ and for Abu Dhabi’s next phase of industrial boom. The robust worldwide demand for this transaction displays our disciplined execution, the strength of our partnerships, and the long-term fundamentals of the Ruwais industrial ecosystem.”
From the partnership side, David Cassidy emphasized the wider market signal: “This is a huge step forward for the venture and a major advancement in our partnership with TA’ZIZ.
“The robust interest on this transaction underscores market confidence in methanol’s growth trajectory, both as a main chemical and as a cleanser burning fuel for transportation and power generation. It also positions Abu Dhabi as a future global hub for methanol manufacturing. Proman is proud to be party to this world class joint venture.”
The financing builds on main execution milestones already obtained, such as Final Investment Decisions by ADNOC, TA’ZIZ, and Proman, plus the EPC award to Samsung E&A Co. Ltd.
Construction of the methanol plant is now underway, with final targeted for 2028. Once operational, it’s predicted to anchor a brand new domestic chemicals value chain in Ruwais, raise nearby production capacity, and reinforce Abu Dhabi’s position as a worldwide industrial hub.
The declaration also strengthens the delivery agenda of Make it in the Emirates, held at ADNEC Centre Abu Dhabi, which targets to transform investor confidence into large-scale industrial manufacturing across the UAE.
