RIL, TA'ZIZ in $2-bn JV for chem project
Business Standard|December 08, 2021
Mukesh Ambani-led Reliance Industries (RIL) is firming up its first investment in West Asia with Abu Dhabi Chemical Derivatives Company RSC (trading as TAʼZIZ). An RIL statement said the two have agreed to launch TAʼZIZ EDC & PVC, a chemical production partnership at the TAʼZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi.
TWESH MISHRA

"The new joint venture (JV) will construct and operate a chlor-alkali, ethylene dichloride (EDC), and polyvinyl chloride (PVC) production facility, with an investment of more than $2 billion," stated the RIL statement.

This is the first investment by RIL in the region, the statement added. This is in line with RIL's announcement to invest in West Asia when its oil-to-chemicals stake sale deal with Saudi Aramco was put on the back burner.

According to RIL executives, the equity structure of TAʼZIZ EDC & PVC has not been finalised yet.

The TA'ZIZ Industrial Chemicals Zone project is currently in the design phase, with project startup targeted in 2025. It represents the first production of these chemicals in the United Arab Emirates.

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