Alpha Dhabi Holding, the Abu Dhabi-based conglomerate, has announced that it will be investing about AED1 billion in the Abu Dhabi Chemicals Derivatives Company, known as TA’ZIZ.
Media reports said the investment comes as part of Alpha Dhabi Holding’s expansion plans and future strategy announced last week targeting AED8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other sectors inside and outside the UAE.
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. 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 organization that enables and supports the 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.
