Abu Dhabi ADQ and ALPHA DHABI Plans USD 375 Million Investment in OCI's Methanol Plant
- Journalist: Kim Chul Son
OCI N.V., a Dutch producer and global leader in methanol and nitrogen products, announced today a close alliance with two leading global investors, ADQ and Alpha Dhabi Holding, positioning the OCI Methanol Group to pursue future growth initiatives. A 15% stake in the OCI Methanol group will be placed for a total consideration of USD 375 million. This amount, however, is scheduled to be finalized by this year. As part of the alliance, OCI Methanol Group will be incorporated as an ADGM company in Abu Dhabi.
Methanol is one of the most logical hydrogen fuels and a key facilitator of the hydrogen economy. The new agreement will enable OCI Methanol to drive and speed the transition to a hydrogen economy, which will be critical in decarbonizing the maritime industry. Methanol is one of the most logical hydrogen fuels and a major driver of the hydrogen economy. The new partnership will enable OCI Methanol to drive and speed the transition to a hydrogen economy, which will be critical in decarbonizing the maritime industry.
Clean methanol as a future fuel will be the focus of the strategic platform, with hydrogen as the dominant feedstock. The OCI Methanol Group is a pioneer in the production of clean methanol, offering clean methanol to blue-chip customers in a range of industries, including transportation. This alliance will help in further solidification of Abu Dhabi’s position, as a key market player in the chemical industry.
According to ChemAnalyst, as the only producer with facilities, vast distribution, and storage capacities in the United States and Europe, located near major inland demand centres or on major global shipping lanes, OCI Methanol Group's acquisition offers numerous distinct advantages which is beneficial for booming hydrogen market. The acquisition comes on the heels of a booming hydrogen industry throughout the world, as well as a growing demand for hydrogen.