In a bid to unlock more opportunities for further industrial growth, Kanoo Energy, a division of The Kanoo Group, has signed an Expression of Interest (EoI) for the Ta’ziz programme with Abu Dhabi National Oil Company (Adnoc).
The Ta’ziz Industrial Chemicals Zone—a joint venture between Adnoc and Abu Dhabi Developmental Holding Company PJSC (ADQ), a sovereign wealth fund located in Abu Dhabi—aims to produce new industrial chemicals in the UAE for the first time, replacing chemicals currently imported, while also exporting to meet the growing demand for these chemicals globally.
The signing, during the ‘Make it in the Emirates’ forum on June 21, 2022, aims to acknowledge the interest to locate activities at Ta’ziz’s Light Industrial and Services Zones. The Ta’ziz Zones promise to unlock opportunities for manufacturers and service providers, which will enable a wide variety of everyday products to be made locally in the UAE.
The Kanoo Group’s Area Executive Hesham Nass and Kanoo Energy’s General Manager Raman Marwaha participated in the EoI signing, together with Khaleefa Al Meheiri, the acting CEO of the Ta’ziz programme. Aside from Kanoo Energy, expressions of interest were signed with over 20 other investors.
The ‘Make it in the Emirates’, held from June 21 to 22, examined the UAE’s potential to become a global industrial hub. It tackled various opportunities in technology, hydrogen, petrochemicals and renewable energy, which have supported the UAE’s rise as a global hub for clean energy. It was organised by the Ministry of industry and Advanced Technology (MoIAT), in association with the Abu Dhabi Department of Economic Development (Added).-- TradeArabia News Service