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UAE lines up $10 billion chemicals push to cut import dependence

Gulf News: Latest UAE news, Dubai news, Business, travel news, Dubai Gold rate, prayer time, cinema·Nivetha Dayanand·27 days ago
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Dubai: TA’ZIZ and Alpha Dhabi Holding have signed a strategic collaboration agreement for about $10 billion in planned chemicals investment in Abu Dhabi, in a move aimed at expanding local manufacturing and reducing reliance on imported industrial materials. The agreement targets new industrial chemicals production within the TA’ZIZ ecosystem in Al Ruwais Industrial City, in the Al Dhafra region of Abu Dhabi. The collaboration is being advanced through a joint feasibility and market study, with final investment decisions and regulatory approvals still required. The agreement was announced at the Make it in the Emirates platform on Wednesday, placing one of Abu Dhabi’s largest planned chemicals investments within the UAE’s broader industrial strategy. Up to 14 chemicals planned The partnership could produce up to 14 new chemicals and add around 2.2 million tonnes per annum of extra capacity to the TA’ZIZ industrial chemicals ecosystem.…

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