UAE’s Abu Dhabi National Oil Company (ADNOC) and holding company ADQ have signed a JV deal to invest in chemicals projects in the planned Ruwais Derivatives Park, a statement from ADNOC said.
ADNOC has held a 60% stake in the venture, while Abu Dhabi’s ADQ, a state-owned holding company, will have the left 40%, the statement said.
ADNOC and ADQ’s investment platform will estimate and invest in anchor chemical projects in the Ruwais park in Abu Dhabi.
ADNOC CEO Sultan al-Jaber said this was part of a strategy to develop the United Arab Emirates’ derivatives sector and attract foreign investment.
UAE – ADNOC and ADQ invest in chemical projects
