Mansour bin Zayed chairs first board meeting of Abu Dhabi National Chemicals Company

The board reviewed in the meeting the company’s operations and future plans in the light of the petrochemical industry. It adopted a number of decisions consistent with the directives of the leadership for the development of chemical industries in the country, which aim to achieve value-added refined petroleum materials and liquefied gas currently being exported in line with the strategic vision for the Emirate of Abu Dhabi 2030.

The board expressed its appreciation and thanks to the wise leadership for its support to the company to achieve its objectives in the development of petroleum resources and investment to maximise and increase revenues.

The company was established under the law issued by President His Highness Shaikh Khalifa bin Zayed Al Nahyan, in his capacity as the Ruler of Abu Dhabi. International Petroleum Investment Company (IPIC) contributed by 40 per cent and Abu Dhabi Investment Council with similar percentage, while the Abu Dhabi National Oil Company (ADNOC) contributed the remaining 20 per cent for the establishment of the Abu Dhabi National Chemicals Company.

The company aims to develop, own and manage complex chemical industry known as ‘Chemicals Industrial City’ in the emirate of Abu Dhabi. —