26 December 2013
Details
Abu Dhabi National Chemicals Company
(ChemaWEyaat)
and Indorama Ventures Plc,
signed a joint venture agreement to
develop the Tacaamol Aromatics Plant
on Madeenat ChemaWEyaat Al Gharbia's (MCAG) site
in the Western Region of Abu Dhabi.
The plant is expected to have an annual capacity of about
* 1.4 million tonnes of paraxylene and
* 0.5 million tonnes of benzene.
ChemaWEyaat will hold 51 % equity and
Indorama will hold 49 % equity
in the joint venture company to be known as
Abu Dhabi Chemicals Integration Company LLC (Tacaamol).
Indorama Ventures Plc.,
Mr.Aloke Lohia, Group CEO
- It heralds long-term business success for Tacaamol.
Both parties will contribute their expertise and resources,
optimizing the benefits that Abu Dhabi offers
to create a world class Aromatics chain industry
that will result in sustainable economic and social development.
About ChemaWEyaat
- ChemaWEyaat is jointly owned by
* IPIC,
* the Abu Dhabi Investment Council and
* Abu Dhabi National Oil Company (ADNOC).
- ChemaWEyaat was established by Emiri Decree
in November 2008 to further develop Abu Dhabi's
domestic chemicals industry, complementing
* ADNOC's subsidiaries Abu Dhabi Polymers Company
(Borouge),
* Ruwais Fertilizer Industries (Fertil) and
* International Petroleum Investment Company's (IPIC)
international chemical subsidiaries.
- In 2012 ChemaWEyaat engaged the service of
Foster Wheeler as
Project Management Consultants (PMC)
for the project, which includes
substantial infrastructure work on MCAG site to support
the Aromatics plant and the other complexes
that are planned to be developped there.
- During the summer of 2013, further contracts were placed
covering the FEED for
the utilities, offsites, and infrastructure,
and the site preparation activities.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
