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AlwaysFree: Reliance, TA’ZIZ Form Chemicals JV


India’s Reliance Industries Ltd. (RIL) formed a chemicals joint venture with Abu Dhabi Chemicals Derivatives Company RSC Ltd. (TA'ZIZ) for projects in Ruwais, UAE, at TA’ZIZ Industrial Chemicals Zone.

The new JV named TA’ZIZ EDC & PVC will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC), and Polyvinyl Chloride (PVC) production facility with investment amounts to USD2 billion.

The JV strengthen the cooperation between UAE’s state-owned Abu Dhabi National Oil Company (ADNOC) and RIL in the Middle East and North Africa (MENA) region.

For RIL, the JV means its first investment in the region, in line with RIL’s announcement to invest in West Asia when its deal with Saudi Aramco was failed.

RIL Chief Mukesh Ambani commented, “India’s need for PVC to propel its growth, and the value from the abundantly available feedstock in the UAE provides a win-win partnership for both companies.”

For the UAE, the JV marks a major milestone in ADNOC’s downstream expansion and the development of the TA’ZIZ Industrial Chemicals Zone. It will help strengthen domestic supply chains, drive in-country value, and accelerate the UAE’s economic diversification.

Tags: All Chemicals,AlwaysFree,Chlor Alkali,English,Ethylene,India,Middle East,PVC,UAE,Vinyls

Published on December 8, 2021 11:48 AM (GMT+8)
Last Updated on December 8, 2021 11:51 AM (GMT+8)