$2bn JV to set up chemicals production hub in Abu Dhabi – ArabianBusiness

$2bn JV to set up chemicals production hub in Abu Dhabi – ArabianBusiness

Abu Dhabi Chemicals Derivatives Company, also known as TA’ZIZ, and Reliance Industries Limited (RIL) have agreed to launch a new world-scale chemical production partnership.

The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility in the TA’ZIZ Industrial Chemicals Zone 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, a statement said.

The TA’ZIZ Industrial Chemicals Zone is a joint venture between Abu Dhabi National Oil Company (ADNOC) and ADQ.

The project builds on ADNOC and Reliance’s long-standing strategic partnership and is Reliance’s first investment in the MENA region.

Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and managing director and group CEO of ADNOC, said: “This strategic partnership with Reliance Industries builds on the strong and deep-rooted bilateral ties between the UAE and India and highlights the attractive and compelling value proposition offered by TA’ZIZ as we grow a globally competitive industrial