Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. OCI N.V.
  6. News
  7. Summary
    OCI   NL0010558797

OCI N.V.

(OCI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

OCI N : Fertiglobe Joins TA'ZIZ as Partner in World-Scale Blue Ammonia Project in Ruwais in Abu Dhabi

06/22/2021 | 02:39am EDT

Press Release

Amsterdam, The Netherlands / 22 June 2021

Fertiglobe Joins TA'ZIZ as Partner in World-Scale Blue Ammonia Project in Ruwais in Abu Dhabi

  • Development to capitalize on emerging global demand for blue ammonia as a hydrogen carrier fuel
  • First world-scale blue ammonia facility in the MENA region with capacity of up to 1 million metric tons per annum leveraging Fertiglobe's world leading ammonia capabilities
  • Builds on ADNOC's low carbon fuels leadership and extensive experience in carbon capture and storage
  • Benefits from its location in the purpose-built TA'ZIZ Industrial Chemicals Zone, adjacent to the Ruwais
    Industrial Complex which will supply the project with attractive hydrogen and nitrogen feedstocks

OCI N.V. (Euronext: OCI) today announced that Fertiglobe has signed an agreement with TA'ZIZ to join a world- scale blue ammonia production project in Ruwais, Abu Dhabi. The agreement further strengthens the UAE's hydrogen value proposition, building on the deep experience in carbon capture and storage of ADNOC, and the world leading ammonia capabilities of Fertiglobe, to develop the first-of-its-kind large scale blue ammonia project in the MENA region.

The project benefits from its location in the purpose-built TA'ZIZ Industrial Chemicals Zone, adjacent to the Ruwais Industrial Complex which will supply the project with attractive hydrogen and nitrogen feedstocks. The agreement is subject to regulatory approvals.

Nassef Sawiris, Executive Chairman of OCI N.V. and CEO of Fertiglobe commented: "I am pleased that we are extending our partnership with ADNOC through this venture, as it fits well in our strategy to decarbonize our global and regional platforms. It helps grow our low carbon and Clean Fuels product offering, which includes our fast- growing biofuels business, further builds on our recently announced 365 ktpa blue ammonia capability in Texas, and leverages OCI's and Fertiglobe's globally leading position in ammonia.

It also capitalizes on the huge potential that we expect ammonia to offer as part of the accelerated global shift to clean energy and as an enabler for the hydrogen economy. Ammonia is a versatile and clean hydrogen carrier, with many exciting fuel applications, in addition to a diverse array of fertilizer and downstream industrial uses. The use of ammonia as a shipping fuel is particularly promising as it is, together with methanol, the only practical alternative for long-distance shipping to decarbonize in a cost-effective way. This project therefore creates exciting growth opportunities for Fertiglobe that will strengthen its market-leading position".

1

Press Release

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: "This is a significant milestone in the development of our blue hydrogen and ammonia business and capitalizes on the strong foundation that ADNOC has developed with Fertiglobe. We believe hydrogen and its carrier fuels, such as ammonia, offer strong potential as low-carbon energy sources. As we continue to grow our manufacturing base in Ruwais, the UAE is well-placed to meet increasing global demand for this new fuel while strengthening our position as a world-scale chemicals and industrial hub and top destination for local and international investment."

The facility's capacity will be up to 1 million metric tons per annum. The companies will jointly conduct pre-FEED and FEED activities. The Final Investment Decision is expected in 2022, and start-up is targeted for 2025.

Blue ammonia is made from nitrogen and "blue" hydrogen derived from natural gas feedstocks, with the carbon dioxide by-product from hydrogen production captured and stored. Ammonia can be used as a low-carbon fuel across a wide range of industrial applications, including transportation, power generation and industries including steel, cement and fertilizer production.

The project will build on the UAE's position as a major producer and reserves holder of natural gas and leadership in Carbon Capture Utilization and Storage (CCUS). CCUS is the use of advanced technology to prevent CO2 from entering the atmosphere after it is expended as a by-product of industrial processes.

************************************

2

Press Release

About OCI N.V.

OCI N.V. (Euronext: OCI) is a leading global producer and distributor of nitrogen and methanol products providing lower carbon fertilizers, fuels, and feedstocks to agricultural, transportation, and industrial customers around the world. OCI's production capacity spans four continents and comprises approximately 16.2 million metric tons per year of nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid, melamine, and other nitrogen products. OCI has more than 3,600 employees, is headquartered in the Netherlands and listed on Euronext in Amsterdam.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC's objective is to maximize the value of the Emirate's vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates' economic growth and diversification. To find out more, visit: www.adnoc.ae

About TA'ZIZ

In Arabic, TA'ZIZ means advancement, strengthening or creating a foundation. It is an industrial services and logistics ecosystem that drives, supports, and enables the growth of the Ruwais Industrial Complex and Abu Dhabi's chemicals, advanced manufacturing and industrial sectors.

For more information visit: www.taziz.com

About Fertiglobe

Fertiglobe is the world's largest seaborne exporter of nitrogen fertilizer globally and the largest producer in the Middle East and North Africa (MENA). Fertiglobe has a production capacity comprises of 6.6 million tons of sellable urea and merchant ammonia, produced at four subsidiaries in the UAE, Egypt and Algeria and benefits from direct access to six key ports and distribution hubs on the Mediterranean Sea, Red Sea, and the Arab Gulf. Established in 2019 and headquartered in Abu Dhabi, Fertiglobe is a 58/42 partnership between OCI N.V. and the Abu Dhabi National Oil Company (ADNOC)

For more information visit: www.fertiglobe.com

For additional information contact:

OCI N.V. Investor Relations:

Hans Zayed

Director

Email: hans.zayed@oci.nl

Tel: +31 (0) 6 18 251 367

For additional information on OCI:

www.oci.nl

OCI stock symbols: OCI / OCI.NA / OCI.AS

Honthorststraat 19

1071 DC Amsterdam

The Netherlands

3

Disclaimer

OCI NV published this content on 22 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2021 06:38:00 UTC.


ę Publicnow 2021
All news about OCI N.V.
01:10aOCI N : S&P Raises OCI To BB+ On Strong H1 Results, Net Debt Reduction
MT
09/20OCI N : Fertiglobe Unit to Secure $1.1 Billion Financing in Capital Structure Reset
MT
09/20OCI N : Fertiglobe Corporate Update
PU
09/20OCI N : Announces New Capital Structure and Dividend Policy for Fertiglobe
PU
09/17OCI N : NV September 2021 Investor Presentation
PU
09/14OCI N : Announces a Conditional Notice of Redemption of all of its Outstanding $540,000,00..
PU
09/14OCI N.V. Announces a Conditional Notice of Redemption of all of its Outstanding $540,00..
CI
09/01Abu Dhabi equities market to launch derivatives offerings in Q4 -statement
RE
08/03OCI N : Unit Fertiglobe Partners Up With ADNOC To Deliver Blue Ammonia To Japan
MT
08/03OCI N : ADNOC and Fertiglobe Partner to Sell UAE's First Blue Ammonia to Japan's Itochu
PU
More news
Analyst Recommendations on OCI N.V.
More recommendations
Financials (USD)
Sales 2021 4 833 M - -
Net income 2021 439 M - -
Net Debt 2021 3 266 M - -
P/E ratio 2021 13,4x
Yield 2021 -
Capitalization 5 635 M 5 633 M -
EV / Sales 2021 1,84x
EV / Sales 2022 1,78x
Nbr of Employees 3 642
Free-Float 29,5%
Chart OCI N.V.
Duration : Period :
OCI N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends OCI N.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 26,86 $
Average target price 28,65 $
Spread / Average Target 6,63%
EPS Revisions
Managers and Directors
Ahmed K. El-Hoshy Chief Executive Officer & Executive Director
Hassan Hussam Badrawi Chief Financial Officer & Executive Director
Nassef Onsi Nagib Sawiris Executive Co-Chairman
Michael L. Bennett Non-Executive Co-Chairman
Sipko N. Schat Vice Chairman
Sector and Competitors
1st jan.Capi. (M$)
OCI N.V.45.80%5 633
SAUDI BASIC INDUSTRIES CORPORATION21.50%98 547
AIR LIQUIDE7.66%79 961
WANHUA CHEMICAL GROUP CO., LTD.23.06%54 395
GANFENG LITHIUM CO., LTD.69.58%35 788
RONGSHENG PETROCHEMICAL CO., LTD.13.00%32 570