Quality Control Engineer

'Taziz' announces completion of financial close for 7.34 billion dirham deal to finance first world-class methanol facility in UAE Abu Dhabi, May 7 / WAM / 'Taziz' announced today, during its participation in the 'Make in the Emirates' platform, that 'Taziz Methanol', the joint venture between 'Taziz' and 'Proman', has completed the financial close for financing valued at 7.34 billion dirhams ($2 billion) to develop the first world-class methanol production facility in the UAE within the Ruwais Industrial City. The deal saw significant demand from financial institutions, exceeding the targeted financing value, underscoring the strong confidence of global financial institutions in the solid foundations on which the growth of the industrial ecosystem in Abu Dhabi is based, and in the strategic plans of 'Taziz'. Eleven leading financial institutions from the region, Europe, and Asia participated in the financing package. It includes a syndicated conventional loan with a five-year term worth 6.6 billion dirhams ($1.8 billion) and an Islamic financing facility worth 734 million dirhams ($200 million). Both facilities were priced according to global best practices, confirming the strong creditworthiness and disciplined execution of the project. Saudi Mitsubishi Sumitomo Banking Corporation served as the exclusive financial advisor for the deal, while Abu Dhabi Commercial Bank and First Abu Dhabi Bank acted as bookrunners and mandated lead arrangers. They structured the loan, led the fundraising process, provided the largest financial commitments, and coordinated the work of the participating bank syndicate. Mishaal Al Kendi, chief executive officer of 'Taziz', said on this occasion that this financing is an important milestone in 'Taziz's efforts and in the course of the next phase of industrial growth in Abu Dhabi. He added that the strong global demand to participate in this deal confirms 'Taziz's ongoing commitment to disciplined execution, the strength of its partnerships, and the solid and long-term foundations of the industrial ecosystem in Ruwais. Meanwhile, David Cassidy, chief executive officer of 'Proman', said that this financing is an important step in efforts to implement the project for the first world-class methanol production facility in the UAE within Ruwais city, and significant progress in our partnership with 'Taziz'. He added that the widespread interest in this deal confirms market confidence in the growth prospects of methanol as a basic chemical and a cleaner-burning fuel for the transport and power generation sectors. This facility also contributes to solidifying Abu Dhabi's position as a global hub for methanol production. 'Proman' is proud to be part of this important joint project. This financing is based on a series of key milestones in the methanol production facility project, including the final investment decisions by Abu Dhabi National Oil Company (ADNOC), 'Taziz', and 'Proman', the award of a contract for engineering, procurement, and construction works to Samsung Engineering Co., Ltd., and the establishment of 'Taziz Methanol'. It is worth noting that construction works for the development of the 'Taziz' methanol facility are progressing significantly, and the project is scheduled for completion in 2028. Upon startup, the facility will contribute to supporting the development of a local value chain for chemicals, enhancing national manufacturing sectors, and strengthening Abu Dhabi's position and competitiveness as a global industrial hub. This step aligns with the focus of the 'Make in the Emirates' platform on supporting business execution, by securing the necessary financing to move strategic industrial projects from the planning stage to the construction stage. The platform supports the country's efforts to achieve tangible progress in developing advanced industries, by converting investor confidence into committed capital that enhances world-class production and long-term industrial growth. It is noted that the 'Make in the Emirates' platform, taking place from May 4 to 7 at ADNEC Abu Dhabi, is the most prominent industrial event in the UAE. It aims to accelerate the growth of the industrial sector and strengthen the UAE's position as a global industrial hub. It is hosted by the Ministry of Industry and Advanced Technology, in partnership with the Ministry of Culture, the Abu Dhabi Investment Office, the Abu Dhabi National Oil Company 'ADNOC' group, and Alimad Holding, and organized by the ADNEC Group.

SAMSUNG E&A wins FEED contract for nearly $5-B SAF plant in the U.S. SAMSUNG E&A has secured a contract for front-end engineering design (FEED) of a sustainable aviation fuel (SAF) production plant in the U.S., marking its full-scale entry into the global clean energy market. SAMSUNG E&A announced on the 15th that it signed a contract with DG Fuels, a U.S. SAF project developer, on the 12th for the clean energy facility basic design (FEED) for the Louisiana SAF Production Project. The company will execute the clean hydrogen production package from a total of two packages. The contract is valued at approximately KRW 23 billion ($15.7 million) and will take approximately 10 months to complete. SAMSUNG E&A aims to secure a linked contract for the main project upon completion of the basic design, with the total project size estimated at approximately $3 billion (KRW 4.5 trillion). This project, to be built in St. James Parish, Louisiana, USA, will produce 600,000 tons of SAF annually using abundant waste resources such as agricultural byproducts and woody biomass in the region as raw materials. SAMSUNG E&A will be in charge of blue hydrogen facilities such as ASU (Air Separation Unit), ATR (Auto Thermal Reformer), and carbon dioxide capture, as well as green hydrogen facilities based on water electrolysis technology for this project. With this contract, following the KRW 1.4 trillion Malaysian SAF order secured late last year, the company has fully entered the global SAF market. SAF, produced from biofuels instead of conventional fossil fuels, is attracting attention as a next-generation, eco-friendly energy source, significantly reducing carbon emissions. With the global decarbonization movement driving major countries to mandate the use of SAF blends, the SAF market is expected to expand steadily. SAMSUNG E&A has been investing and collaborating to secure core energy transition technologies, including SAF, carbon capture, hydrogen, ammonia, and LNG, centered on its E&Able strategy, a new business model for the future energy transition. These efforts have led to tangible results in the clean energy sector, with recent wins including a SAF plant in Malaysia, a biodegradable plastics plant in the UAE, a basic design for an eco-friendly LNG plant in Indonesia, a conceptual design for an LNG plant in North America, and a low-carbon ammonia plant in the US. Hong Namkoong, President and CEO of SAMSUNG E&A stated, "We will continue to secure orders for this project through the successful completion of the FEED," and added, "Through this, we will solidify our position in the North American region, where we are expanding into new markets, and expand our participation in new energy transition businesses such as SAF, hydrogen, and carbon capture."