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Kuwait-headquartered Alghanim International has started construction works on the $1bn steam and power cogeneration plant catering to the Taziz derivatives complex in Abu Dhabi’s Ruwais industrial area.

Known as Project Volta, the steam and power cogeneration facility will supply electricity to the plants built at the Ruwais petrochemicals complex, some 220 kilometres west of Abu Dhabi city.

The new cogeneration plant will supply up to 300MW of power. It is expected to be completed by 2028.

Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi National Energy Company (Taqa) awarded the $1bn engineering, procurement and construction (EPC) contract to Alghanim in December, two years after the procurement process began.

In addition to Alghanim, the following companies were understood to have submitted initial bids for the contract in July 2022:

• Harbin (China)
• Larsen & Toubro Power (India)
• Orascom Construction (Egypt) / Elsewedy (Egypt) / Metito

Adnoc and Taqa received and opened revised proposals for the contract in January 2023, before the project was put on hold.

MEED reported in February 2024 that Adnoc had reactivated the tender proceedings for the project.

Derivatives complex

Adnoc signed an agreement with Taqa in June 2021 to construct other utilities in the Ruwais complex, including power, steam, cooling, demineralised and wastewater services.

The total investment in building the Ruwais derivatives park will be $5bn. Several derivatives plant projects with an estimated budget of $3bn have been tendered. 

Taziz is a 60:40 joint venture of Adnoc and Abu Dhabi’s industrial holding company ADQ.

READ THE FEBRUARY MEED BUSINESS REVIEW

Trump unleashes tech opportunities; Doha achieves diplomatic prowess and economic resilience; GCC water developers eye uptick in award activity in 2025.

Published on 1 February 2025 and distributed to senior decision-makers in the region and around the world, the February MEED Business Review includes: