ADNOC Refining, a joint venture company between the Abu Dhabi National Oil Company (ADNOC), Eni, and OMV, has entered into a strategic agreement with ADQ, an Abu Dhabi-based investment and holding company, Veolia Middle East (Veolia), and Vision International Investment Company (Vision Invest), to acquire its waste management operations in Al Ruways Industrial City.
Under the agreement, signed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), ADQ, Veolia, and Vision Invest consortium will own and operate two world-scale waste management plants, which sustainably treat and dispose of industrial waste generated from across ADNOC’s operations.
The agreement supports ADNOC’s role as a catalyst for the UAE’s economic growth and industrial diversification by attracting additional international investment and strategic partnerships with Al Ruways. The partnership will also enhance the competitiveness of ADNOC Refining by allowing the company to focus on its core refining operations.
Abdulla Ateya Al Messabi CEO – ADNOC Refining
“We welcome the consortium as our latest strategic partners in Al Ruways. This agreement demonstrates ADNOC’s focus on ADNOC Classification: Public forging strategic partnerships to promote capital efficiency and unlock growth opportunities in Al Ruways and Abu Dhabi as a leading destination for international investors. The partnership also supports the UAE’s industrial growth through the provision of leading world-scale waste management capabilities. Such win-win partnerships further accelerate the delivery of ADNOC’s mandate to grow the UAE’s economic base and deliver lasting value through our downstream businesses.”
Chief Executive Officer of Veolia, Ms. Estelle Brachlianoff, and the President & CEO of Vision Invest Mr. Omar Al-Midani said that “We are honored to partner with ADNOC Refining to operate these first-class facilities, utilizing the existing trained and expert team, supplemented by the consortium’s worldwide experience in hazardous waste management. Through this partnership, we will ensure continuity, reliability and safety of the transferred assets to a world leader specialized in waste treatment, with an operational philosophy centered around safety.”
The consortium’s acquisition of the waste management plants adds to several other strategic partnerships built by ADNOC with a number of local and international partners in Al Ruways.
