The China National Chemical Engineering Corporation (CNCEC) and Abu Dhabi National Petroleum Construction Corporation (NPCC) has signed a strategic agreement at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2021 to create new opportunities for cooperation in the field of oil, gas, chemical and other engineering fields.
“The signing of strategic cooperation between CNCEC and NPCC is an important milestone in the path to development, realising a win-win partnership and marking CNCEC’s formal entry into Abu Dhabi's downstream fine chemical industry,” says Hanane Fertas, Business Development Director at CNCEC.
“The Abu Dhabi Economic Vision 2030 aims to achieve economic transformation and bring about global integration, which will make the ten years ahead of us very challenging and competitive,” she explains. “This is going to take partnerships with corporations from all over the world.”
In the context of global carbon neutrality, cooperation in the field of new energy has become a new direction for China and Arab countries. As part of the 2030 vision, Abu Dhabi will vigorously invest in the production of downstream chemical products with different high-end commodities, which aligns with the main industry of CNCEC.
“As the founder of China's petroleum and chemical industry, China National Chemical Engineering Corporation has an absolute advantage in petrochemicals and is well positioned to contribute to maximising value to the economy of this region, and globally,” she adds.
In recent years, CNCEC has adhered to the path of specialisation, diversification and internationalisation and accelerated its development in overseas markets to form a new model of one body and two wings with the chemical industry as the mainstay and coordinated development of oil and gas infrastructure.
As an international company established by the China National Chemical Engineering Corporation in the region, it believes it has entered the blue ocean market of the downstream chemical industry at the right time. Since the beginning of this year, CNCEC has continued to optimise its business operations and seized development opportunities.
ADIPEC is one of the most influential global energy forums in the world. Attendance at the conference indicates the significant role CNCEC envisions to play in the downstream fine chemical industry of the UAE.
