Can you tell me about the Reliance chemicals venture in UAE?
Answer
Answer
Reliance Industries is plans to invest in the Abu Dhabi Chemicals Derivatives Company (TA’ZIZ) to form a chemicals partnership in West Asia. The plant will be located at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi. This also mark Reliance’s first major investment in the West Asian region.
The chemical partnership will install and operate a production facility for chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC). The project is likely to entail an overall investment of $2 billion with equity partnership from both. The project will commence in 2025 and the finer aspects of the equity structure is under discussion