Emirati chemical firm TA’ZIZ said Monday it had awarded a $1.7 billion contract to South Korea-based engineering firm Samsung E&A to build the United Arab Emirates’ first methanol plant as the country looks to shift to greener energy.

Once completed in 2028, the plant is expected to produce 1.8 million tons of the fuel a year.

Methanol is used as a fuel in different sectors, including the maritime sector, and is seen as a more sustainable energy type than traditional fuels. 

The methanol facility will be based in Abu Dhabi’s Al Ruwais........

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