RIL, Abu Dhabi’s TA’ZIZ ink $2-billion chemical undertaking three way partnership

Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) and Reliance Industries Ltd (RIL) have signed the formal shareholder settlement for the Rs 15,000-crore TA’ZIZ EDC & PVC undertaking.

The three way partnership will assemble and function a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) manufacturing facility, with whole funding of over $2 billion. These chemical compounds can be produced within the UAE for the primary time, unlocking new income streams and alternatives for native producers. RIL is a strategic associate with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based funding and holding firm within the undertaking on the TA’ZIZ Industrial Chemicals Zone in Ruwais.

The formal shareholder settlement was signed by senior executives throughout a go to of RIL CMD Mukesh Ambani to ADNOC headquarters. He met Sultan Al Jaber, Minister of Industry & Advanced Technology and ADNOC MD & Group CEO, and mentioned alternatives for partnership and development in upstream, new energies and decarbonisation throughout the hydrocarbon worth chain.