SAMSUNG E&A, a total solutions provider for the global energy industry, announced through a public disclosure that it had received a Letter of Award (LOA) on 31 January for the EPC of the TA'ZIZ Methanol Project. The contract value is US$ 1.7 billion, with a contract duration of 44 months.

This project includes the construction of a methanol plant with a production capacity of 1.8 million tons per annum at the TA'ZIZ chemicals and transition fuels ecosystem being developed in the Ruwais Industrial Complex, UAE.

SAMSUNG E&A will bring its successful experience of a recently completed methanol plant in Malaysia and the active application of its unique execution system, characterized by modularization and automation, to the project.

Hong Namkoong, President and CEO of SAMSUNG E&A stated, "We plan to actively leverage local resources and our network of partners based on our extensive regional experience in the Ruwais Industrial Complex, UAE." He added, "SAMSUNG E&A will ensure the project's success by applying our differentiated execution system, which integrates our innovative technologies such as modularization and automation."

TA’ZIZ is a joint venture between ADNOC and ADQ, an Abu Dhabi-based investment and holding company.