- Sunday, February 23, 2025
By: Shubham Ghosh
RELIANCE Industries’ share price gained nearly a per cent in the early trade on Wednesday (30), a day after the company unveiled an announcement with Abu Dhabi National Oil Company (ADNOC) for setting up a chemical facility at TA’ZIZ in Ruwais, Abu Dhabi, the United Arab Emirates, Moneycontrol reported.
In a press release on Tuesday (29), Reliance Industries said, “Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries, has signed an agreement to join a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi.”
The agreement capitalises on the surging demand for the critical industrial law materials and leverages the strengths of both Reliance and ADNOC as global industrial and energy leaders, the press release added. The project will be set up in the TA’ZIZ Industrial Chemicals Zone – a joint venture between ADNOC and ADQ, formerly Abu Dhabi Development Holding Company.
As per the agreement, Reliance and TA’ZIZ will construct an integrated plant with a capacity to produce 940,000 tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360,000 tons of PVC a year.
Reliance excited over ADNOC partnership, says Mukesh Ambani
“We at Reliance are excited to enter into a strategic 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,” Mukesh D Ambani, chairman of Reliance Industries said.
“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 globalising Reliance’s operations, and we are proud to partner with ADNOC in this important project for the region,” he added.
While chlor-alkali is used in water treatment and manufacturing of textiles and metals, ethylene dichloride is generally used for making PVC, which is used widely across housing, infrastructure and consumer goods.
The market for these chemicals is expected to see a steady growth backed by the needs of growing demand, especially in Asia and Africa.
