Reliance-ADNOC
Reliance enters into agreement with ADNOC to build PVC facility in Ruwais
Mumbai/IBNS: Abu Dhabi National Oil Company (ADNOC) Tuesday announced that Reliance Industries Limited (Reliance) has signed an agreement to venture in a new world-scale Chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi.
The agreement capitalizes on the growing demand for these industrial raw materials and leverages the strengths of ADNOC and Reliance as global industrial and energy leaders; the project will be constructed in the TA’ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ, the Reliance company release said.
The UAE major added under the terms of the agreement, TA’ZIZ and Reliance will construct an integrated plant, with a capacity to produce 940 thousand tons of Chlor-alkali, 1.1 million tons of ethylene dichloride, and 360 thousand tons of PVC annually.
ADNOC said it's raising the ante for growth with TA’ZIZ, a chemical production hub in Ruwais, with an investment of AED 18 billion and a number of further growth projects in the downstream and industry sector.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “We are delighted to attract an investor of Reliance’s caliber to partner with ADNOC and ADQ in accelerating growth at TA’ZIZ. This agreement is a significant milestone, as we continue to grow a globally competitive industrial ecosystem and highly attractive investor value proposition.”
Welcoming this initiative, Reliance Industries Chairman and Managing Director, Mukesh D. Ambani, said: We at Reliance are excited to enter into a Strategic Partnership with ADNOC for establishing a world-class and world-scale chemical project at TA’ZIZ in Ruwais. This important milestone further bolsters our long-standing relationship with ADNOC, reaffirming our faith in the global vision of the UAE’s wise leadership.
"It is also yet another testimony to the enormous potential in advancing India-UAE cooperation in value enhancement in the energy and petrochemicals sectors. The project will manufacture ethylene dichloride, a key building block for production of PVC in India. This is a significant step in globalizing Reliance’s operations, and we are proud to partner with ADNOC in this important project for the region.”
Chlor-alkali is used in water treatment and in the manufacture of textiles and metals, while Ethylene dichloride is used to produce PVC which has a wide range of applications across housing, infrastructure, and consumer goods.
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