Adding value to Hydrocarbons
Abu Dhabi National Chemicals Co.
Interview with HE Mohamed Al Azdi, Chief Executive,
Abu Dhabi National Chemicals Company
Abu Dhabi Economic Vision 2030
Although the production, marketing and export of
petrochemicals are all well developed economic
activities in Abu Dhabi, as demonstrated by the
Emirate’s highly successful fertilizer, ethelyne
and polyethelyne ventures, the Emirate has the
A new entrant into the petrochemical scene,
ChemaWEyaat’s mission is to add substantially to
the diversification of Abu Dhabi’s economy by adding
value to its petroleum reserves and to compliment
industry leaders such as FERTIL, Borouge and Abu
Dhabi Polymers in the process.
opportunity to build upon this platform, expanding
its industrial base into a major global industry for
which it has excellent comparative advantages.
HE Mohamed Al Azdi, Chief Executive of Abu Dhabi
National Chemicals Company, otherwise known as
ChemaWEyaat is keen to point out that,
“Everybody knows that oil and gas is the first and
foremost sector in this country, but it is important
to keep in mind that the chemical industry is the
number two sector. The leadership is on a drive to
achieve the best value from our finite reserves and so,
adding value by chemical processing is a way to enter
new markets and diversify our economy.”
ChemaWEyaat was announced by Emiri Decree on
26th November 2008. Three state-owned enterprises
are the shareholders of the company:
- International Petroleum Investment Company 40%
- Abu Dhabi Investment Council 40%
- Abu Dhabi National Oil Company (ADNOC) 20%
The company is to operate in a clusters zone; the
purpose of which is to organise the chemicals supply
chain into sub-clusters to assure maximum efficiency
in adding value to the readily accessible hydrocarbon
reserves. The enterprise is currently developing
the Tacaamol Project in the Khalifa Port Industrial
Zone (KPIZ) in Taweelah and will begin developing
a master plan for Madeenat ChemaWEyaat Ras Al
Dhbaiah in the western region for this purpose.
According to HE Mohamed Al Azdi, Chief
Executive of ChemaWEyaat, “The company is to
act as a catalyst for the development of the industry.
Ch emical cities are to become a platform for growth.”
“We have the benefit of developing our complexes
at a time when most such installations globally are
growing older and are located in areas that do not
have the same competitive advantages of location and
feedstock availability that Abu Dhabi offers. We can
therefore position ourselves to produce a best-in-class
focal point for the chemical industry. In converting
oil and oil resource into chemical products such as
fertilizers and organic and non-organic chemicals,
based on indigenous resources.”
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