ADNOC and Reliance sign agreement for chemical project in Abu Dhabi

ADNOC and Reliance sign agreement for chemical project in Abu Dhabi

The Abu Dhabi National Oil Company (ADNOC) said on Tuesday that it has signed an agreement with India's Reliance Industries Limited (Reliance) for the latter to join a new chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA'ZIZ in Ruwais, Abu Dhabi. Under the agreement, TA'ZIZ and Reliance will construct an integrated plant, with a capacity to produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually. The project will be constructed in the TA'ZIZ Industrial Chemicals Zone, which is a joint venture between ADNOC and ADQ, and represents the first investment by Reliance in the region. "We are delighted to attract an investor of Reliance's caliber to partner with ADNOC and ADQ in accelerating growth at TA'ZIZ. This agreement is a significant milestone, as we continue to grow a globally competitive industrial ecosystem and highly attractive investor value proposition. The domestic production of critical industrial raw materials strengthens our supply chains, drives In-Country Value and accelerates the UAE's economic diversification,“ said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC group managing director and CEO. Mukesh D. Ambani, Reliance Industries chairman and managing