Reliance Industries partners with Abu Dhabi Chemicals Derivatives Company RSC Ltd

Reliance Industries and the Abu Dhabi state-owned Chemicals Derivatives Company (TA’ZIZ) have agreed to start a chemical production partnership for more than $2 billion. 

According to TA’ZIZ, Reliance Industries of India have agreed to start a chemical production partnership in Ruwais for more than $2 billion.

The joint venture, named TA’ZIZ EDC & PVC, will construct and operate a Chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility with the aim of exporting the material to South-Asian, African, and the domestic market. TA’ZIZ, formed in 2020 itself is a joint venture of ADNOC and ADQ.

As per Mukesh Ambani, the chairperson of Reliance, “India’s need for PVC to propel its growth, and the value from the abundantly available feedstock in UAE, provides a win-win partnership for both companies.” Also, this project is the first project by reliance industries in this region. The investment of approx $15 billion was announced in 2019 but was delayed as oil prices crashed during the pandemic. Reliance will be collaborating with Saudi Aramco and SABIC for investments in Saudi Arabia.

“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 the growing demand for these chemicals globally,” TA’ZIZ said.

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