TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and Proman, has reached financial close on a $2 billion (AED 7.34 billion) financing deal to build the UAE’s first world-scale methanol plant in Al Ruwais Industrial City. 

 

Announced at Make it in the Emirates 2026, the transaction was heavily oversubscribed, signaling strong global investor appetite and confidence in Abu Dhabi’s industrial expansion strategy.

 

The financing package draws in 11 leading financial institutions across the Middle East, Europe, and Asia. It includes a five-year $1.8 billion syndicated conventional loan and a $200 million Islamic facility. Pricing was aligned with international benchmarks, reflecting disciplined structuring and the project’s strong credit fundamentals. 

 

Sumitomo Mitsui Banking Corporation served as exclusive financial advisor, while Abu Dhabi Commercial Bank and First Abu Dhabi Bank acted as bookrunners and mandated lead arrangers, anchoring 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 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.”

 

From the partnership side, David Cassidy highlighted the broader market signal: “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 key execution milestones already achieved, including 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 completion targeted for 2028. Once operational, it is expected to anchor a new domestic chemicals value chain in Ruwais, boost local manufacturing capacity, and strengthen Abu Dhabi’s position as a global industrial hub.

 

The announcement also reinforces the delivery agenda of Make it in the Emirates, held at ADNEC Centre Abu Dhabi, which aims to convert investor confidence into large-scale industrial production across the UAE.