Chemaweyaat appoints new Tacaamol head

05 May 2010

Mehdi Adib was previously vice-president for major projects at Sipchem

Abu Dhabi National Chemicals Company (Chemaweyaat) has appointed Mehdi Adib as chief executive of its Abu Dhabi Chemicals Integration Company (Tacaamol) subsidiary and has changed the shareholding structure of the company, it said in a 3 May statement.

Tacaamol will oversee the development of the $10bn first phase of Chemaweyaat’s planned industrial chemicals city at Taweelah in the north of the emirate.

MEED reported in February that interim Tacaamol chief executive Harri Bucht was due to step down in May (MEED 21:2:10).

Adib moves to Tacaamol from Saudi International Petrochemicals Company (Sipchem), the major private Saudi Arabian chemicals producer,  where he was vice-president for major projects. Prior to this, he served as vice-president of Bechtel International, a division of the US engineering firm.

Chemaweyaat is a development vehicle for the petrochemicals industry in Abu Dhabi, which is owned by state-owned International Petroleum Investment Company (Ipic) and Abu Dhabi Investment Council, each with a 40 per cent stake in the company, and Abu Dhabi National Oil Company (Adnoc), which holds a 20 per cent share.

The partners decided in the first quarter of 2010 to re-designate Tacaamol as a 100 per cent subsidiary of Chemaweyaat, rather than a 49:51 joint venture of Ipic and Chemaweyaat as was previously planned, the company has confirmed to MEED.

In 2009, the Tacaamol complex was projected to create revenues of about $6.1bn a year through the sale of 6.3 million tonnes of chemicals a year (MEED 22:5:09).

MEED reported in March that preliminary feasibility studies for the Tacaamol complex had been completed, and that front-end engineering and design (Feed) tenders could be issued before the end of the second quarter of 2010 (MEED 21:3:10).

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