Reliance partners with TA’ZIZ for chemical project in Abu Dhabi

WCN Editorial Team 28 Apr 2022 MIDDLE EAST ENERGY & UTILITIES

India-based Reliance Industries has signed a shareholder agreement with Abu Dhabi Chemicals Derivatives Company (TA’ZIZ) for TA’ZIZ EDC & PVC.

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 joint venture.

TA’ZIZ EDC & PVC will construct and operate an over $2bn chemical production facility at the Ta’ziz industrial complex in Ruwais, about 240km west of Abu Dhabi.

The Ta’ziz facility will manufacture chemicals such as chlor-alkali, ethylene dichloride and polyvinyl chloride.

Once operational, this will become the first facility in the UAE to produce these chemicals.

Minister of Industry and Advanced Technology, ADNOC managing director and group CEO Dr. Sultan Al Jaber said, “Reliance is a valued strategic partner and our collaboration at Ta’ziz underscores the important role of industrial and energy cooperation as means of strengthening deep-rooted ties between the UAE and India.

“We are building on this partnership and the progress at Ta’ziz to unlock more opportunities and to drive UAE’s industrial and manufacturing growth.”

The UAE is developing the Ta’ziz industrial complex to make higher-value petroleum products for domestic consumption besides exporting to markets in Southeast Asia and Africa.

Reliance chairman and managing director Mukesh Ambani said: “This joint venture is a testimony to the strong and growing ties between India and the UAE and will be a benchmark for more such projects built on strengths of the two nations.”

The agreement was signed at the ADNOC headquarters in Abu Dhabi.

A framework agreement was also signed between ADNOC and Reliance to explore collaboration in the exploration, development and production of conventional and unconventional resources in Abu Dhabi besides decarbonisation of operations, including in CO2 sequestration.

Reliance and Masdar also plan to explore collaboration opportunities in renewable energy and green hydrogen projects.
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Image: Reliance chairman Mukesh Ambani and Abu Dhabi National Oil Company group CEO Dr Sultan Al Jaber. Credit: ADNOC.

 

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