Abu Dhabi National Oil Company's logistics and services subsidiary and AD Ports Group have signed an agreement to develop a new port and associated facilities at the Ta'ziz chemical manufacturing hub within Ruwais.
The two companies plan to select an international operator to form a joint venture and develop the port.
The Ta'ziz hub is being prioritised for the manufacturing and development of chemicals and other specialty products. International and local investors have been invited to participate in the development of projects at the site, which will include a chemicals zone and a light industrial area housing companies using chemicals produced in the area.
"The new port will consolidate the UAE’s competitiveness as an international supply chain hub for energy and industry and further positions Ta’ziz as the preferred partner for investing in the growth of the UAE’s advanced manufacturing base," said Captain Abdulkareem Al Masabi, the chief executive of Adnoc Logistics & Services.
In November last year, Adnoc and ADQ, Abu Dhabi’s holding company, announced plans to collaborate on projects worth $5 billion at the Ruwais Derivatives Park.
Ta’ziz will invest in chemical projects worth $3bn, while $2bn is set to be spent on the development of a port and infrastructure at Ruwais.
The new port will have large-scale berths and associated infrastructure as well as loading and unloading facilities. The infrastructure will include 10 product tanks and a feedstock storage tank.
The Ta'ziz centre will have three industrial zones for seven chemical projects, and the ability to convert them into consumable products and also host service companies.
"By bringing together our respective expertise to build vital trade infrastructure, we are boosting industrial investment flows to the UAE and helping accelerate Abu Dhabi’s economic growth and industrialisation," said Captain Mohamed Al Shamsi, group chief executive at AD Ports Group.
The Ta'ziz hub is at the design phase for the seven chemicals projects. The manufacturing centre will look to develop blue ammonia, ethylene dichloride, Chlor-alkali and polyvinyl chloride.
Adnoc and Abu Dhabi National Energy Company, better known as Taqa, will develop utilities infrastructure for the site.
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
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How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
