Chemaweyaat to Begin Chemical City in 2010
Abu Dhabi National Chemicals Company (Chemaweyaat) will award the engineering and design contract for the first phase of its industrial chemicals city in the second quarter of 2010.
The $10bn first phase of the project will involve the development of Tacaamol, a petrochemicals complex at the Taweelah industrial city on the outskirts of Abu Dhabi, according to tradearabia.com.
According to Chemaweyaat's chief executive Mohammed Al Azdi, the feasibility studies are complete, and the front end engineering and design will begin before summer.
Chemaweyaat is a joint venture company, in which Abu Dhabi Investment Council and International Petroleum Investment Company hold 40% each while the Abu Dhabi National Oil Company holds 20%.