Adnoc investing $45bn to develop Ruwais City
6.9sqkm community near Ruwais Industrial Complex will be home to 50,000 people
Abu Dhabi National Oil Company (Adnoc) has announced that it will invest $45 billion in development plans for Ruwais City, a 6.9sqkm community near the Ruwais Industrial Complex in Abu Dhabi’s Al Dhafra region.
The project will see the population of the city nearly double over the next 15 years, to more than 50,000 people, along with the creation of thousands of new, specialised, highly-skilled jobs, in parallel with Adnoc’s investment in its downstream operations, a report by WAM said.
The Ruwais City development plan is part of Adnoc’s decision to develop the world’s largest integrated refining and petrochemicals complex in Ruwais.
In a statement, the oil giant said that the industrial ecosystem, supported by the UAE’s stable fiscal, legal and financial system, is designed to generate long-term sustainable value for investors by providing them with access to a diverse set of competitive materials, utilities and other best-in-class industrial services.
The project will also offer proximity to growing markets and best-in-class community infrastructure that ensures a work-life balance, it added.
Adnoc also pointed out that the development of the industrial complex and the city would see a significant impact on the local economy, as local contractors and businesses would grow in tandem, providing a significant boost to the local economy.
“Ruwais is an international centre of various industries, especially oil and gas, and is an important part of the UAE economy, and the main destination for the residents and visitors of Al Dhafra Region,” said Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region.
“Its growth and expansion will advance the country’s refining and petrochemical industries while updating and improving its infrastructure will enable it to keep pace with the country’s progress. Adnoc will launch the Ruwais Industrial Complex in the coming years, to keep pace with the needs of a growing population that will accompany these developments, which will help establish the stature of Ruwais.”
“The development of Ruwais will have positive, direct and tangible economic and social effects, such as training Emiratis and providing them with work opportunities while improving the quality of life of the residents of Ruwais and the Al Dhafra Region and giving local companies, whether large, medium or small, to participate in construction and infrastructure development projects,” he added.
Sheikh Hamdan also commended Adnoc’s efforts to develop Ruwais and maximise the value of every barrel of oil it produces, through the strengthening of its operations in the oil and gas sector.
“Our investment in the further development of Ruwais City is an investment in our people, our most important asset. It is not just about enhancing the city’s infrastructure; it is about improving residents’ quality of life as we continue to build a strong, sustainable community and create greater value for the benefit of the local economy, the region and the nation,” said Dr Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEO, during the unveiling of the new Ruwais City brand identity – Where Opportunity Lives.
“The $45 billion investment in our downstream operations, over the next five years, will have a big ripple effect that will create new employment opportunities, establish new businesses and enable existing businesses to grow and prosper. The in-county value will also be significant as we expand our operations, introduce new high-value products and grow our downstream market share,” he added.
In order to accommodate the immediate population growth, Adnoc is constructing more than 3,000 new residential units, which will bring the total number of city housing units to more than 10,000. More will be built as required, it said.
The city’s development will also include a number of projects focused on lifestyle, recreation and community, including new beach facilities, a park, traditional souq, an 18-hole golf course, cricket field, running and cycling track, as well as an expansion of the public transport network, and a range of community, civic and health centres.
Furthermore, Ruwais City will be supported by the expansion of a number of government service centres, including the city’s first ‘Tamm Centre’, where residents will be able to obtain official government documents, rather than going to Abu Dhabi.
Amongst the community offerings are eight schools and universities, three pharmacies, three major markets, three travel agencies, four fitness clubs, two large parks, a major shopping mall and a range of other commercial and civic centres.
Through a combined program of strategic partnerships and investment, Adnoc will increase its range and volume of high-value downstream products, secure better access to growth markets around the world and create a manufacturing ecosystem in Ruwais that will significantly stimulate in-country value creation, private sector growth and employment. The strategy is expected to add more than 15,000 jobs by 2025 and contribute an additional 1% to GDP per year.
The investment program will see the entire Ruwais complex upgraded to increase its flexibility and integrated capabilities to produce greater volumes of higher-value petrochemicals and derivative products. It includes the construction of one of the world’s largest mixed feed crackers, trebling petrochemicals production capacity from 4.5 mtpa to 14.4 mtpa by 2025.
Adnoc will also develop a new, large-scale, manufacturing ecosystem in Ruwais through the creation of petrochemical Derivatives and Conversion Parks.
