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RIL, Abu Dhabi firm to invest $2 billion in UAE petrochem unit

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 $2 billion.

By: ENS Economic Bureau | Mumbai |
Updated: December 7, 2021 11:58:56 pm
Mukesh Ambani, Mukesh Ambani news, Reliance Industries, Reliance Industries news, blockchain, blockchain news, cryptocurrency, cryptocurrencies, Indian Express, India news, current affairs, Indian Express News Service, Express News Service, Express News, Indian Express India NewsReliance Industries Chairman Mukesh Ambani (File)

Reliance Industries Limited (RIL) and Abu Dhabi Chemicals Derivatives Company RSC Ltd have proposed to invest $2 billion in a petrochemical production facility in the UAE.

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 $2 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, RIL said.

The two companies have agreed to launch ‘TA’ZIZ EDC & PVC’, a chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. “This strategic partnership with Reliance Industries builds on the strong and deep-rooted bilateral ties between the UAE and India…,” said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC managing director and Group CEO.

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