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TA’ZIZ, India's Reliance create JV to build $2bn chemicals facility

TA’ZIZ, India's Reliance create JV to build $2bn chemicals facility
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UAE - Mubasher: Abu Dhabi Chemicals Derivatives Company (TA’ZIZ) has partnered with India's Reliance Industries Limited (RIL) to create a joint venture, TA’ZIZ EDC & PVC, at the TA’ZIZ Industrial Chemicals Zone in Ruwais.

The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC), and Polyvinyl Chloride (PVC) production facility worth over $2 billion, according to a press release on Tuesday.

The project will enable the UAE to substitute imports, produce those chemicals for the first time, and create new local value chains.

The UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, Sultan Ahmed Al Jaber, said: "This strategic partnership with Reliance Industries builds on the strong and deep-rooted bilateral ties between the UAE and India and highlights the attractive and compelling value proposition offered by TA’ZIZ as we grow a globally competitive industrial ecosystem."

Meanwhile, Mukesh D. Ambani, Reliance Industries Chairman and Managing Director, commented: "India’s need for PVC to propel its growth, and the value from the abundantly available feedstock in UAE provides a win-win partnership for both companies. Close cooperation in the region based on shared objectives is key as we optimise resources and work together to enrich the lives of our citizens."