Engineering Ta'ziz Secures 1.39 Billion Dollar Financing for Two Strategic Projects in Ruwais

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Ta'ziz recently announced the financial close of 1.39 billion dollars for two strategic projects in Ruwais, UAE. Out of the total financing, more than 928 million dollars has been secured for the Ta'ziz Terminal project, while over 460 million dollars has been raised for the Ta'ziz Ammonia project.

Abu Dhabi/UAE – Ta'ziz recently announced at Adipec 2026 the financial close of 1.39 billion dollars (AED 5.10 billion) for two strategic projects in Ruwais. Both transactions were oversubscribed, reinforcing international investor confidence in Ta’ziz, Abu Dhabi’s industrial growth strategy and the UAE’s position as a leading destination for long-term infrastructure investment.

Of the total financing, more than 928 million dollars (AED 3.41 billion), including 225 million dollars (AED 826 million) of Islamic financing, has been secured for the Ta'ziz Terminal project, while over 460 million dollars (AED 1.69 billion) has been raised for the Ta'ziz Ammonia project. These transactions follow the 2-billion-dollar (AED 7.34 billion) financing secured in April by Ta'ziz for its methanol project.

The Ta'ziz Terminal project, a joint venture between Adnoc and Advario Star Energy, will serve as the primary logistics gateway for the Ta’ziz Industrial Chemicals Zone, providing liquid chemical storage capacity and export capabilities to regional and international markets. The Ta'ziz Ammonia project, a joint venture between Ta'ziz, Fertiglobe, Mitsui & Co. and GS Energy Corporation, is developing one of the largest ammonia production facilities in the region, with a capacity of 1 million tonnes per annum (mtpa).

Mashal Saoud Al-Kindi, Ta’ziz CEO and Chairman of both the Ta’ziz Terminal and Ammonia projects, said: "The successful financing of the Ta'ziz Terminal project and the Ta'ziz Ammonia project marks another major milestone in the delivery of the Ta’ziz Industrial Chemicals Zone.

Securing more than 3.39 billion dollars (AED 12.44 billion), including the methanol financing announced in April, across the portfolio demonstrates the strong confidence that international investors and lenders have in Ta’ziz, our partners, and Abu Dhabi’s long-term industrial vision. These projects will play a critical role in establishing a globally competitive chemicals and industrial ecosystem in Ruwais while supporting the UAE’s economic diversification objectives."

Bas Verkooijen, CEO of Advario, said: "The strong response from lenders reflects the quality of this project and the confidence the market has in the Ta'ziz ecosystem. Securing long-term, non-recourse financing on these terms is a significant milestone for a facility of this scale, and it allows us to progress construction with certainty."

Ahmed El-Hoshy, CEO of Fertiglobe, said: "Reaching this milestone on competitive terms reflects the discipline the partners have brought to this project since the final investment decision. The 1 mtpa facility is well advanced, and this financing underpins the final phase of delivery. It is an efficient use of structuring to enhance shareholder returns and another step in Fertiglobe's strategy to grow our lower-carbon ammonia platform alongside Adnoc, Ta’ziz and our partners in Ruwais.”

Mitsubishi UFJ Financial Group (MUFG) acted as financial advisor on the Terminal financing, bringing together nine regional and international banks on a long-term non-recourse deal. Sumitomo Mitsui Banking Corporation (SMBC) acted as exclusive financial advisor for the Ammonia financing, bringing together seven banks from China, Kuwait, Spain and Singapore for a six-year term facility.

Construction and development activities continue to advance across the Ta’ziz portfolio, with both the ammonia and terminal projects progressing towards key project milestones. The Engineering, Procurement and Construction (EPC) works for ammonia, awarded to Tecnimont, are more than 90 % complete and the EPC works for the terminal, awarded to Rotary Engineering, are around 70 % complete.

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