Alpha Dhabi Holding PJSC (ADH),the Abu Dhabi-based conglomerate andADX-listed company, has announced that it will be investing about AED 1 billion in the Abu Dhabi Chemicals Derivatives Company RSC Ltd., known as TA’ZIZ.
This step comes as part of Alpha Dhabi Holding’s expansion plans and future strategy announced last week targeting AED 8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.
Speaking on the announcement, Eng. Hamad Salem Mohamed Al-Ameri, Managing Director and CEO of Alpha Dhabi Holding, said, “TA’ZIZ and its operations in the UAE represent an excellent investment opportunity for Alpha Dhabi Holding, complementing as it does our organisation’s strategic diversification across highly promising growth opportunities, especially as the company is successfully active in our core businesses of agriculture, energy, healthcare, pharmaceuticals, construction and the heavy transport and chemical industry sectors. We foresee our relationship developing into a long-term contributor not only to the nation’s economy, but to the regional and global competitiveness of Alpha Dhabi Holding, Abu Dhabi and the UAE.”
TA’ZIZ is an industrial services and logistics organisation that enables and supports growth of the Ruwais Industrial Complex and fulfills Abu Dhabi’s downstream, chemical and petrochemical requirements across industrial sectors with advanced manufacturing services.
The chemicals supply chain is a vital component of “Operation 300bn,” the UAE’s industrial growth strategy backed by the Ministry of Industry and Advanced Technology, which intends to raise the UAE industrial sector’s contribution to national gross domestic product to AED 300 billion by the year 2031. The partnership between ADH and TA’ZIZ leverages a range of opportunities in an attractive sector given the projected growth in global demand for chemicals and the chance to facilitate new supply chains through local production.
Abu Dhabi-based Chimera Capital advised Alpha Dhabi Holding in relation to their investment in the new ADGM-based TA’ZIZ investment platform.
