Reliance, TA’ZIZ to speculate $2 bn in petchem unit in Abu Dhabi

Billionaire Mukesh Ambani’s Reliance Industries on Tuesday mentioned it is going to in partnership with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) make investments USD 2 billion in establishing a petrochemical manufacturing facility within the UAE.
The oil-to-telecom conglomerate will be part of the recently-formed TA’ZIZ three way partnership of Abu Dhabi state vitality large ADNOC and state holding firm ADQ for creating the ability at Ruwais in western Abu Dhabi.
“TA’ZIZ and RIL, have agreed to launch ‘TA’ZIZ EDC & PVC’, a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais,” the corporate mentioned in an announcement.
The new three way partnership will assemble and function a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) manufacturing facility, with an funding of greater than USD 2 billion.
The TA’ZIZ Industrial Chemical Zone tasks are presently within the design section with challenge begin up focused in 2025.
“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,” it mentioned.

The TA’ZIZ Industrial Chemicals Zone is a three way partnership between Abu Dhabi National Oil Company (ADNOC) and ADQ.
ADNOC, which pumps a lot of the UAE’s 3 million barrels per day of crude oil, plans to spend USD 45 billion with companions to develop its downstream operations in Ruwais. These tasks embrace including refining and petrochemical capability.
The oil refinery deliberate at Ruwais is being designed to be built-in with the petrochemical challenge.
“The project builds on ADNOC and Reliance’s long-standing strategic partnership and is Reliance’s first investment in the MENA region,” the assertion mentioned.
The signing of the three way partnership phrases, that are topic to regulatory approvals, was witnessed by UAE Minister of Industry and ADNOC chief government Sultan Ahmed Al Jaber and Reliance Chairman and Managing Director Mukesh D Ambani.
The three way partnership phrases have been signed by Khaleefa Al Mheiri, Acting CEO of TA’ZIZ and Kamal Nanavaty, President Strategy and Business Development of Reliance.
The settlement capitalises on the rising demand for these important industrial uncooked supplies and leverages the strengths of the 2 corporations as international industrial and vitality leaders.
Reliance operates the world’s largest refining advanced at Jamnagar in Gujarat. It additionally has petrochemical crops. Besides producing oil, ADNOC too has related operations.
Under the phrases of the settlement, TA’ZIZ and Reliance will assemble an built-in plant with a capability to supply 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360,000 tonnes of PVC yearly.
While chlor-alkali is utilized in water therapy and within the manufacturing of textiles and metals, ethylene dichloride (EDC) is used for producing polyvinyl chloride (PVC).

PVC is often utilized in pipes, fittings, profiles, tubes, home windows, doorways, sidings, wire, cable, movie, sheet, and flooring.
Al Jaber, mentioned: “This strategic partnership with Reliance 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 ecosystem.”
“This joint venture marks a major milestone in ADNOC’s downstream expansion and the development of the TA’ZIZ Industrial Chemicals Zone. It will help strengthen domestic supply chains, drive In-Country Value and accelerate the UAE’s economic diversification, in line with the leadership’s wise directives.”
Ambani mentioned the three way partnership will additional cement the lengthy standing and valued relationship between India and the UAE.

“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. Close cooperation in the region based on shared objectives is key as we optimise resources and work together to enrich the lives of our citizens,” he mentioned.
The manufacturing of chlor-alkali, EDC and PVC will create alternatives for export to focus on markets in Southeast Asia and Africa, in addition to offering native trade with a supply of important uncooked supplies manufactured within the UAE for the primary time, the assertion mentioned.
TA’ZIZ includes three zones, the primary of which is an industrial chemical compounds zone that may host chemical compounds manufacturing, with seven world-scale tasks already within the design section.
The second is a lightweight industrial zone, which shall be house to downstream conversion industries that may convert the outputs of the chemical zone into consumable merchandise and, lastly, an industrial companies zone that may home a wide range of corporations offering the required companies required by the TA’ZIZ industrial zones and the broader Ruwais Industrial Complex.