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ADNOC signs Memorandum of Understanding (MoU) with Rafago on a facility in Ruwais
Abu Dhabi National Oil Company (ADNOC) said on Wednesday it had signed a memorandum of understanding with the Rafago Group to explore opportunities for cooperation at the Ruwais Industrial Complex in the United Arab Emirates.
Under the proposed agreement, Raffago will plant a factory for plastic compounds in Ruwais and will operate it, ADNOC said in a statement.
ADNOC plans to invest $ 45 billion over the next five years to expand its refining and petrochemical operations as it seeks to become a global player in the downstream sector.
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