TAGS: Sustainability / Natural Solutions
Reliance Industries Limited (RIL) and Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ), sign the formal shareholder agreement for the TA’ZIZ EDC & PVC project.
The TA’ZIZ EDC & PVC joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with a total investment of over $2 billion (AED 7.34 billion).
Unlocking New Revenue Streams
These chemicals will be produced in the UAE for the first time, unlocking new revenue streams and opportunities for local manufacturers to “Make it in the Emirates.”
Reliance is a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA’ZIZ EDC &
PVC, at the TA’ZIZ Industrial Chemicals Zone in Ruwais.
The formal shareholder agreement was signed by senior executives during a visit of Mr. Mukesh Ambani, chairman and managing director of Reliance, to ADNOC headquarters.
During the visit, Mr. Ambani met Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, and discussed opportunities for partnership and growth in upstream, new energies and decarbonization across the hydrocarbon value chain.
H.E. Dr. Al Jaber and Mr. Mukesh Ambani exchanged a signed framework agreement between ADNOC and Reliance to explore collaboration in the exploration, development and production of conventional and unconventional resources in Abu Dhabi as well as in decarbonization of operations, including in carbon dioxide sequestration.
The TA’ZIZ EDC &
PVC project is well positioned to strengthen domestic supply chains and support the UAE’s national strategy to empower the industrial sector and become the driving force of a dynamic and robust domestic economy over the next 50 years.
It is anticipated that the TA’ZIZ complex will benefit from the free trade agreement between India and the United Arab Emirates, which was signed in February of this year. Bilaterial trade between both nations will be boosted as new trade and development opportunities, such as TA’ZIZ, are further unlocked.
Wide Application Range of Chemicals
Chlor-Alkali enables the production of caustic soda, crucial to the alumina refining process. EDC is used in the production of
PVC, which is used to manufacture a wide range of industrial and consumer products including pipes, windows fittings, cables, films and flooring.
The production of Chlor-Alkali, EDC, and
PVC will create opportunities for export to target markets in Southeast Asia and Africa, as well as providing local industry with a source of critical raw materials manufactured in the UAE for the first time, strengthening in-country Value.
Mukesh Ambani also met with Mohamed Jameel Al Ramahi, CEO of Masdar, to explore potential opportunities for collaboration in renewable energy and green hydrogen, both of which are key priorities for the UAE and India.
The chemicals set to be produced by the TA’ZIZ EDC &
PVC joint venture with Reliance have a wide range of industrial applications, enabling local supply chains and meeting growing demand in key export markets. Final investment decision for the chemical project is expected later this year and is subject to relevant regulatory approvals.
Source: Reliance Industries Ltd