Joint Venture Grace and Al Dahra to build first fluid catalytic cracking catalysts manufacturing plant in Middle East
Grace and Al Dahra Agriculture have executed a Joint Venture agreement to build the first fluid catalytic cracking (FCC) catalysts manufacturing facility in the Middle East. The companies marked their commitment and progress with a briefing and gala dinner today for over 100 industry and government leaders from around the region.
Abu Dhabi/United Arab Emirates - The state-of-the-art facility, which represents a capital investment of approximately $200 million, will serve refineries throughout the Middle East and potentially into South Asia. It will be built on just under 150,000 sq. meters of land in the Kizad Industrial Zone approximately 70km from the city of Abu Dhabi in the United Arab Emirates (UAE).
A logistics hub will be completed in the first quarter of 2014. Detailed engineering work for the full manufacturing facility is underway and construction is expected to begin in the fourth quarter of 2013. The facility will create approximately 200 new jobs and is scheduled to begin operations in the fourth quarter of 2015.
Officials from The Abu Dhabi Oil Refining Company and Oman Oil Refineries and Petroleum Industries Company, spoke at the event, which was presented under the patronage of UAE Energy Minister H.E. Suhail Mohammed Al Mazrouei.
According to Grace Chairman and Chief Executive Officer Fred Festa, regional demand for FCC catalysts is expected to grow substantially in the coming years. “This project, Grace’s most significant capital investment in several years, will help us extend our global leadership in catalysts,” he said. “We couldn’t be more pleased with our Joint Venture Partner, Al Dahra Agriculture, on whom we can count for invaluable support here in the region.”
Nearly 40 percent of transportation fuels worldwide are processed with Grace catalysts and Grace is the global leader for FCC catalysts and additives.