Abu Dhabi Chemicals Derivatives Company RSC Ltd (“TA’ZIZ”) and Reliance Industries Limited (RIL), have agreed to launch TA’ZIZ EDC & PVC, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais, said Transportandlogisticsme.
The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than USD2 billion.
Representing the first production of these chemicals in the UAE, the project will enable the substitution of imports and the creation of new local value chains, while also meeting growing demand for these chemicals globally.
The TA’ZIZ Industrial Chemicals Zone is a joint venture between Abu Dhabi National Oil Company (ADNOC) and ADQ.
The project builds on ADNOC and Reliance’s long-standing strategic partnership and is Reliance’s first investment in the MENA region.
The signing of the joint venture terms, which are subject to regulatory approvals, was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO and Reliance Industries Chairman and Managing Director, Mr. Mukesh D. Ambani.
The joint venture terms were signed by Mr. Khaleefa Al Mheiri, Acting CEO of TA’ZIZ and Mr. Kamal Nanavaty, President Strategy and Business Development of Reliance Industries Limited.
We remind, Abu Dhabi National Oil Co (ADNOC) plans to build a steam cracker in Ruwais, in line with its goal of more than doubling the chemical production capacity at the TA’ZIZ Industrial Chemicals Zone. A feasibility study on the project is under way, with the design phase set to commence in the first quarter of 2023, ADNOC said in a statement on 3 November.
mrchub.com