TA'ZIZ Closes AED5.1 Billion Financing for Ruwais Ammonia and Terminal Projects

The TA'ZIZ Terminal project receives more than AED3.41 billion, of which AED826 million is Islamic financing. The TA'ZIZ Ammonia project has raised more than AED1.69 billion. In April TA'ZIZ secured AED7.34 billion for its methanol project, and the company said the three deals together take financing across the portfolio past AED12.44 billion.

Partners And Lenders

The terminal is a joint venture between ADNOC and Advario Star Energy. It is meant to be the main logistics gateway for the TA'ZIZ Industrial Chemicals Zone, giving producers storage for liquid chemicals and the ability to export them to regional and international buyers. The ammonia joint venture is owned by TA'ZIZ, Fertiglobe, Mitsui & Co., Ltd. and GS Energy Corporation. The statement said the plant will be one of the largest ammonia facilities in the region.

Mitsubishi UFJ Financial Group (MUFG) advised on the terminal loan, which is long-term, non-recourse debt from nine regional and international banks. Sumitomo Mitsui Banking Corporation (SMBC) was exclusive financial adviser on the ammonia loan, a six-year term facility from seven banks based in China, Kuwait, Spain and Singapore.

Both projects are well into construction. According to the statement, Tecnimont's engineering, procurement and construction (EPC) work on the ammonia plant is more than 90 per cent complete, and Rotary Engineering's EPC work on the terminal is about 70 per cent complete.

What The Executives Said

Mashal Saoud Al-Kindi, chief executive of TA'ZIZ and chairman of both projects, said the financing "marks another major milestone in the delivery of the TA'ZIZ Industrial Chemicals Zone". He said the total raised across the portfolio shows that international lenders have confidence in TA'ZIZ, its partners and Abu Dhabi's long-term industrial plans.

Advario chief executive Bas Verkooijen said that securing long-term, non-recourse money on these terms for a facility of this size "allows us to progress construction with certainty". Fertiglobe chief executive Ahmed El-Hoshy said the ammonia plant is well advanced and that the loan "underpins the final phase of delivery". He described the deal as part of Fertiglobe's plan to grow its lower-carbon ammonia business alongside ADNOC and TA'ZIZ in Ruwais.

Why It Matters

TA'ZIZ sits at the centre of Abu Dhabi's plan to build a domestic chemicals and industrial base in Ruwais, and the company presents the zone as support for the UAE's economic diversification goals. The financings matter because the debt is raised at project level rather than guaranteed by the sponsors, and because banks across Asia, Europe and the Gulf took part. That shows lenders are prepared to take on the risk of individual Ruwais projects at a time when regional conflict is putting a higher price on energy-sector risk.

TA'ZIZ did not disclose pricing, margins or the names of all participating banks.