india

RIL, Ta’ziz JV to set up $2 bn petchem unit

Abu Dhabi Chemicals Derivatives Company RSC Ltd. (TA’ZIZ) and Reliance Industries Ltd. (RIL), have agreed to set up ‘TA’ZIZ EDC & PVC’, a chemical production joint venture at the TA’ZIZ Industrial Chemicals Zone in Ruwais.

The joint venture would will construct and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, with an investment of more than $2 billion, the entities said in a joint statement.

“We are happy that we will be setting up the first projects in the vinyl chain in the UAE at TA’ZIZ Industrial Chemicals Zone, which is being developed into a global hub for chemicals,” said RIL CMD Mukesh Ambani.

“India’s need for PVC to propel its growth, and the value from the abundantly available feedstock in UAE, provides a win-win partnership for both companies,” he added. The Ta’ziz Industrial Chemical Zone projects are targeted to start in 2025.

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