Alpha Abu Dhabi Holding Company plans to invest in the Abu Dhabi Chemical Derivatives Company, known as Tanzeez, with an amount of one billion dirhams.
According to Arabiya Net, this step is part of the company's recently announced expansion plans.
A financial budget of 8 billion dirhams has been allocated for investment in various vital and strategic sectors inside and outside the UAE, such as real estate, hospitality, health care, petrochemicals and other promising sectors.
Engineer Hamad Salem Al Ameri, CEO and Managing Director of Alpha Abu Dhabi Holding Company, said: The strengthening of its operations in the Emirate of Abu Dhabi is an important addition and strategic diversification to our investment portfolio that includes many sectors. From agriculture, energy, healthcare, pharmaceuticals, construction, transportation and chemicals. We look forward to a successful and fruitful long-term strategic cooperation with a promotion aimed at building regional and global competitiveness for Alpha Abu Dhabi Holding Company and the UAE.
Enhancing an industrial and logistical services system that drives, supports and enables the growth of the Ruwais Industrial Complex and the refining and petrochemicals sector, and building an advanced industrial system in the UAE. Abu Dhabi-based Chimera Capital has advised Alpha Abu Dhabi Holding Company regarding its investments in the system.
Chemicals are among the priority sectors within the 300 billion project, the industrial growth strategy of the UAE led by the Ministry of Industry and Advanced Technology, which aims to raise the contribution of the industrial sector GDP to reach 300 billion by 2031.
The partnership between Alpha Abu Dhabi and "Taziz" will contribute to taking advantage of opportunities in a promising sector given the expected growth in global demand for chemicals and the opportunity to provide new supply chains from During local production.
