TA'ZIZ closes $1.39B financing for two Ruwais industrial projects
What's the deal? TA'ZIZDealroom has a profile for this one. Try Dealroom → has closed $1.39 billion in financing for two projects in Ruwais, Abu Dhabi, with MUFGDealroom has a profile for this one. Try Dealroom → and Sumitomo Mitsui Banking CorporationDealroom has a profile for this one. Try Dealroom → advising. The package covers a chemicals terminal and an ammonia plant, both of which were oversubscribed.
Where the money goes: More than $928 million — including $225 million of Islamic financing — backs the TA'ZIZ Terminal, a joint venture between ADNOC and Advario Star Energy that will store liquid chemicals and handle exports. Over $460 million funds the ammonia plant, a venture with FertiglobeDealroom has a profile for this one. Try Dealroom →, MitsuiDealroom has a profile for this one. Try Dealroom → and GS EnergyDealroom has a profile for this one. Try Dealroom → that will produce one million tonnes a year.
MUFG advised on the terminal, a long-term non-recourse deal spanning nine banks. Sumitomo Mitsui Banking Corporation advised on the ammonia financing across seven banks.
Why now? Construction is well advanced — the ammonia plant is over 90% complete and the terminal about 70% — so the financing carries both projects toward delivery rather than signalling early intent.
The quick re-raise: The close follows a $2 billion financing for TA'ZIZ's methanol project in April 2026. That brings secured funding to more than $3.39 billion across three developments in rapid succession.
What's the endgame? The projects sit within the TA'ZIZ Industrial Chemicals Zone, designed to produce about 4.7 million tonnes of chemicals and industrial products a year. Chief executive Mashal Al-Kindi said the deal was "another major milestone in the delivery" of the zone and would support "a globally competitive chemicals and industrial ecosystem in Ruwais."
The signal: Oversubscription on both tranches points to lender appetite for contracted industrial assets in Abu Dhabi. The $225 million Islamic tranche also shows Sharia-compliant funding fitting inside a large, multi-bank project deal — part of the emirate's push to diversify beyond energy production into chemicals and export infrastructure.
Read more: furtherarabia.com
Image credit: Sharon Loxton
