UAE's ADNOC, Cepsa to set up chemicals plant in Ruwais

UAE's Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Mubadala Investment Company-owned Cepsa to set up a 150,000 tonne per annum chemicals project in Ruwais.

The companies will manufacture linear alkyl benzene (Lab), a compound that is used by the detergents industry, after having completed feasibility studies over the past six months, the oil major said in a statement on Monday.

“As we expand downstream and grow our refining capacity and capabilities, we will be able to expand the number of new products and value chains we can create” said Abdulaziz Al Hajri, downstream director, ADNOC.

The announcement comes after ADNOC announced plans to invest $45 billion (AED165 billion) with international partners across its downstream value chain in order to transform its Ruwais facilities into the world’s largest integrated refining and petrochemicals complex by 2025.