UAE state-owned oil company, Abu Dhabi National Oil Company (ADNOC) has partnered with the Indian multinational conglomerate company Reliance Industries to develop a new world-scale chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais.
The agreement takes advantage of the rising demand for vital industrial raw materials and continues the momentum of ADNOC’s downstream and industry growth plans that are in line with its 2030 strategy.
Under the terms of the deal, TA’ZIZ and Reliance will build an integrated facility with a capacity of 940,000 tons of chlor-alkali, 1.1 million tons of ethylene dichloride, and 360,000 tons of PVC per year. As per the reports, the deal is worth $2 billion.
“We at Reliance are excited to enter into a partnership with ADNOC for establishing a world-class and world-scale chemical project at TA’ZIZ in Ruwais. This important milestone further bolsters our long-standing relationship with ADNOC, reaffirming our faith in the global vision of the UAE’s wise leadership. It is also yet another testimony to the enormous potential in advancing India-UAE cooperation in value enhancement in the energy and petrochemicals sectors. The project will manufacture ethylene dichloride, a key building block for the production of PVC in India. This is a significant step in globalizing Reliance’s operations, and we are proud to partner with ADNOC in this important project for the region.”
Dr. Sultan bin Ahmad Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO said, “This agreement is a significant milestone, as we continue to grow a globally competitive industrial ecosystem and highly attractive investor value proposition. In line with our 2030 strategy, we look forward to creating further opportunities across the entire TA’ZIZ ecosystem for the next generation of local industry. The domestic production of critical industrial raw materials strengthens our supply chains, drives In-Country Value, and accelerates the UAE’s economic diversification.”
Petrochemical, refining, and gas growth projects are currently under construction, with several projects also recently completed across the downstream and industry portfolio. ADNOC is preparing for expansion with TA’ZIZ, the world-scale chemicals manufacturing hub and industrial ecosystem, with a $4 billion (Dh18 billion) investment and a number of downstream and industry growth projects.