Trade FinanceData
Ta'ziz closes $1.39bn financing for Ruwais ammonia plant and terminal
Both tranches oversubscribed, bringing total secured for three projects to $3.39bn targeting 4.7mn tons annual output by 2028.
Ta'ziz closed $1.39 billion in financing for two projects at Ruwais on 4 November 2026, with both transactions oversubscribed. The terminal project raised more than $928 million, including $225 million of Islamic financing, while the ammonia project secured over $460 million, according to a company statement. Ta'ziz is a joint venture between Adnoc and ADQ established in 2020.
Terminal financing brings nine banks for storage and export capacity#
Ta'ziz Terminals, a joint venture between Adnoc and Advario Star Energy, raised more than $928 million from nine regional and international banks through a long-term non-recourse facility. MUFG acted as financial adviser on the transaction. The terminal will provide liquid chemical storage capacity and export capabilities to regional and international markets, serving as the logistics gateway for the Ta'ziz Industrial Chemicals Zone. Rotary Engineering holds the engineering, procurement and construction contract, with works approximately 70 percent complete as of the announcement date.
Ammonia plant secures $460mn with seven lenders, 90 percent built#
The ammonia project raised more than $460 million through a six-year term facility from seven banks based in China, Kuwait, Spain and Singapore. Sumitomo Mitsui Banking Corporation served as exclusive financial adviser. The facility finances a joint venture between Ta'ziz, Fertiglobe, Mitsui and GS Energy developing an ammonia production facility with capacity of one million tonnes per annum. Tecnimont holds the EPC contract, with works more than 90 percent complete. Fertiglobe chief executive Ahmed El Hoshy stated the financing underpins the final phase of delivery.
Three projects total $3.39bn with methanol facility included#
The two transactions follow $2 billion in financing Ta'ziz secured in April 2026 for its methanol project, bringing the total raised for three projects to more than $3.39 billion. The Ta'ziz industrial zone is set to produce 4.7 million tonnes per annum of chemicals, including low-carbon ammonia, methanol and PVC, once the first phase is completed at the end of 2028. Ta'ziz chief executive Mashal Al Kindi stated the financing demonstrates investor confidence in the company and its partners. The first phase is expected to create 20,000 construction jobs and 6,000 operational roles.
Offtake agreements signed in May 2026 for zone output#
Ta'ziz signed $28.5 billion worth of agreements in May 2026 spanning five to 25 years to secure raw materials and sell chemicals from the zone. Adnoc and Proman will buy methanol, while Emirates Global Aluminium is among the buyers for caustic soda. The zone's chemicals port, under construction by NMDC Group through a $300 million contract awarded in 2024, was scheduled for completion in the fourth quarter of 2026. Adnoc Logistics & Services signed a 50-year agreement to own and operate the port, which will feature two liquid berths handling cargoes including ammonia, methanol and caustic soda.
Sources2 sources across 2 domains
- thenationalnews.comThe National$1.39bn financing closed, terminal raised $928mn including $225mn Islamic financing, ammonia raised $460mn, both oversubscribed, 4.7 mtpa target by end 2028, $3.39bn total with April methanol financing, EPC completion percentages, lender details
- enterpriseam.comEnterpriseNon-recourse structure for terminal financing, $28.5bn offtake agreements signed May 2026, NMDC port contract $300mn with 4Q 2026 completion target, Adnoc L&S 50-year port operating agreement, berth specifications
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