OCI, ADQ and Alpha Dhabi Holding to acquire stake in OCI Methanol Group

Under the terms of the agreements, ADQ and Alpha Dhabi Holding will acquire a 15% stake in the OCI Methanol Group for a total consideration of US$375 million. As part of the alliance, OCI Methanol Group will be incorporated as an ADGM company in Abu Dhabi, UAE.

The transaction bolsters OCI’s positioning for future growth initiatives in the global transition to a hydrogen economy and focus on clean methanol as a fuel for the future with hydrogen as the primary feedstock. Methanol is a fundamental enabler of the hydrogen economy and is one of the most efficient fuels that will be key to decarbonising the marine industry in particular.

OCI Methanol Group benefits from several strategic advantages that enable it to capture rising global demand for clean fuels. The Group has already been a pioneer in developing clean methanol, supplying clean methanol to blue chip customers in various industries including the transportation industry. It is also the only producer with facilities and extensive distribution and storage capabilities in the US and Europe, which are located near major inland demand centres or on major global shipping lanes next to key bunkering hubs.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/07022022/oci-adq-and-alpha-dhabi-holding-to-acquire-stake-in-oci-methanol-group/