Reliance, TA'ZIZ to invest $2 bn in petrochem unit in Abu Dhabi

New Delhi, December 7

Reliance Industries on Tuesday said it will in partnership with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) invest $2 billion in setting up a petrochemical production facility in the UAE.

The TA’ZIZ Industrial Chemical Zone projects are currently in the design phase with project start up targeted 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,” the company said. — PTI

Chemical production partnership

• RIL will join the recently formed TA’ZIZ JV of Abu Dhabi state energy giant ADNOC and state holding company ADQ for developing the facility at Ruwais in Abu Dhabi
• The new joint venture will construct and operate a chlor-alkali, ethylene dichloride and polyvinyl chloride production facility, with an investment of more than $2 billion

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