TA’ZIZ has announced a major milestone for the UAE’s industrial sector after securing $2 billion (AED7.34 billion) in financing for the country’s first world-scale methanol production facility located in Al Ruwais Industrial City. The announcement was made during the “Make it in the Emirates 2026” event, highlighting the UAE’s continued push to strengthen its industrial and manufacturing capabilities.
The financing was achieved through the TA’ZIZ Methanol Company, a strategic joint venture formed between TA’ZIZ and Proman. According to the companies, the transaction attracted exceptionally strong investor demand and was significantly oversubscribed, reflecting high levels of confidence from international financial institutions in TA’ZIZ’s long-term industrial strategy and Abu Dhabi’s growing role as a global manufacturing and chemicals hub.
The financing package combines support from 11 leading financial institutions across the Middle East, Europe, and Asia. It includes a five-year conventional syndicated loan worth $1.8 billion (AED6.6 billion), along with a separate $200 million (AED734 million) Islamic financing facility. Both financing arrangements were reportedly priced in line with international market benchmarks, demonstrating the project’s strong financial profile, disciplined execution strategy, and investor confidence in its long-term commercial viability.
Sumitomo Mitsui Banking Corporation acted as the exclusive financial advisor for the transaction. Meanwhile, Abu Dhabi Commercial Bank and First Abu Dhabi Bank served as bookrunners and mandated lead arrangers. Both banks played a central role in structuring the financing package, leading fundraising activities, coordinating the syndicate, and providing the largest commitments within the transaction.
Mashal Saoud Al-Kindi, Chief Executive Officer of TA’ZIZ, described the financing as a landmark achievement for both the company and Abu Dhabi’s industrial sector. He noted that the strong international demand for the financing package demonstrates confidence in TA’ZIZ’s execution capabilities, strategic partnerships, and the long-term strength of the Ruwais industrial ecosystem. According to Al-Kindi, the project represents an important step in the next phase of Abu Dhabi’s industrial growth ambitions.
David Cassidy, Chief Executive of Proman, also emphasized the significance of the financing agreement, calling it a major advancement for the partnership between Proman and TA’ZIZ. He stated that the strong investor interest highlights confidence in the future growth potential of methanol markets worldwide. Cassidy noted that methanol is increasingly gaining importance not only as a core industrial chemical but also as a cleaner-burning fuel alternative for transportation and power generation applications. He further added that the project will help position Abu Dhabi as a future global center for methanol production and supply.
The latest financing milestone builds upon several major developments already achieved by the project. These include Final Investment Decisions (FID) 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.. In addition, the formal establishment of the TA’ZIZ Methanol Company has further strengthened the project’s operational framework.
Construction activities at the methanol facility are currently progressing, with commercial operations expected to begin in 2028. Once completed, the plant is expected to play a key role in developing the UAE’s domestic chemicals value chain by supporting local manufacturing industries and reducing reliance on imported chemical products. The project is also expected to reinforce Abu Dhabi’s position as a globally competitive industrial and energy hub.
The announcement aligns closely with the broader objectives of the “Make it in the Emirates” initiative, which focuses on converting investor interest into committed industrial investments and accelerating the development of advanced manufacturing projects across the UAE. The event, held at the ADNEC Centre Abu Dhabi from 4-7 May, serves as the UAE’s flagship industrial platform dedicated to supporting long-term industrial expansion and economic diversification.
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