TA’ZIZ, Reliance sign Shareholder Agreement for Ruwais Chemicals Project

TA’ZIZ, Reliance sign Shareholder Agreement for Ruwais Chemicals Project

WAM: Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) and Reliance Industries Limited (RIL), have signed the formal Shareholder Agreement for the TA’ZIZ EDC & PVC project.

Reliance is India’s largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA’ZIZ EDC & PVC, a world-scale chemicals development at the TA’ZIZ Industrial Chemicals Zone in Ruwais.

The TA’ZIZ EDC & PVC joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with a total investment of over US$2 billion (AED 7.34 billion). These chemicals will be produced in the UAE for the first time, unlocking new revenue streams and opportunities for local manufacturers to “Make it in the Emirates”.