$1.39 Billion Financing for Ruwais Terminal and Ammonia Projects
Key Facts
TA’ZIZ announced financial close on November 4, 2026, for $1.39 billion in financing, equivalent to AED 5.10 billion, for the terminal and ammonia projects in Ruwais Industrial City. The two agreements finance projects within the TA’ZIZ Industrial Chemicals Zone: one provides a logistics gateway for storage and exports, and the other is an ammonia production facility. The company said both deals were oversubscribed, bolstering international investors’ confidence in TA’ZIZ and Abu Dhabi’s industrial growth strategy. The new financial close comes as both projects enter advanced stages of construction, with ammonia works more than 90% complete and the terminal about 70% complete. The financing is part of a portfolio whose financing, according to the company’s CEO, has expanded to more than $3.39 billion when the methanol financing announced in April is included.
The terminal project secured more than $928 million, equivalent to AED 3.41 billion, including $225 million, or AED 826 million, in Islamic financing. The terminal is a joint venture between ADNOC and Advario Star Energy and will serve as the main logistics gateway for the TA’ZIZ zone. Its role includes storing liquid chemicals and exporting them to regional and international markets, linking the zone’s production with storage facilities and export routes. TA’ZIZ said engineering, procurement and construction work on the terminal was about 70% complete on November 4. That puts the project at an advanced stage of construction as it moves, according to the company, toward its next major phases.
The ammonia project raised more than $460 million, equivalent to AED 1.69 billion, according to the announcement. The project brings together TA’ZIZ, Fertiglobe, Mitsui and GS Energy in a joint venture targeting production capacity of 1 million tonnes a year. Fertiglobe’s CEO said the facility was “progressing well with construction, and this financing supports the final phase of delivery.” Engineering, procurement and construction work had passed 90% on November 4, making its completion rate higher than the terminal’s, at about 70%. The announcement links the financing to the facility’s final delivery phase without specifying a deadline for the start of production.
TA’ZIZ’s CEO said securing more than $3.39 billion, equivalent to AED 12.44 billion, across the portfolio marks a new milestone in developing the TA’ZIZ Industrial Chemicals Zone. The total includes financing for the methanol plant announced in April, along with the terminal and ammonia financing announced on November 4. TA’ZIZ announced on May 7, 2026, the financial close of $2 billion, or AED 7.34 billion, in financing for the methanol plant. The methanol deal included a $1.8 billion, five-year syndicated conventional loan and a $200 million Islamic financing facility. The new financing places the two projects within a broader funding drive to develop the Ruwais chemicals zone, with a clear distinction between the production facility and the logistics facility.
The TA’ZIZ industrial ecosystem aims to produce 4.7 million tonnes a year of UAE-made chemicals by 2028, as ADNOC and TAQA announced in January 2026. That month, the two companies signed a 27-year utilities agreement to support the TA’ZIZ Industrial Zone in Ruwais, covering electricity, steam, cooling, water and wastewater facilities. TA’ZIZ also said in May that its long-term commercial agreements to sell products and supply feedstock were worth about $28.5 billion, or AED 104 billion. The terminal and ammonia financing comes within this broader ecosystem: the terminal provides storage and export services for liquid chemicals, while the ammonia facility targets production of 1 million tonnes a year. The latest construction figures reported by the company on November 4 show ammonia works had passed 90% and terminal works had reached about 70%, with both projects moving toward their next major phases.