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Abu Dhabi's TA’ZIZ Methanol JV secures $2bn financing for methanol plant

Abu Dhabi’s TA’ZIZ Methanol Company, a joint venture between TA’ZIZ and the Swiss-headquartered Proman, has secured $2 billion (AED7.34 billion) in financing for a methanol plant at Al Ruwais Industrial City.

The financing package comprises a five‑year $1.8 billion conventional syndicated loan, alongside a $200 million Islamic facility.

The transaction was significantly oversubscribed with 11 regional, European and Asian financial institutions participating, a statement said. Both tranches were priced in line with international benchmarks, it said.

Sumitomo Mitsui Banking Corporation (SMBC) acted as exclusive financial advisor, while Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank (FAB) served as bookrunners and mandated lead arrangers.

TA’ZIZ was established in 2020 as a joint venture between Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi's investment and holding company ADQ. The JV supports the production of chemicals and transition fuels.

The methanol plant is set for completion by 2028. Once operational, the facility is expected to support the development of a domestic chemicals value chain and enable local manufacturing. 

Methanol is a core building block for many downstream chemicals and products, including formaldehyde, plastics, resins, adhesives, paints and fuels.