ADNOC, Reliance Sign Strategic Partnership
Business
Abu Dhabi - Asharq Al-Awsat
Abu Dhabi National Oil Company (ADNOC) and Reliance Industries (RIL) have signed an agreement to set up a new petrochemical complex in Abu Dhabi, to produce chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC). Under the terms of the agreement, this integrated plant will have a capacity to produce 940,000 tons of chlor-alkali, 1.1 million tons of ethylene dichloride, and 360,000 tons of PVC annually, RIL said in a statement on Tuesday. “This agreement is a significant milestone, as we continue to grow a globally competitive industrial ecosystem and highly attractive investor value proposition,” said Sultan Ahmed Al Jaber, minister of industry and advanced technology, UAE. Jaber is also the managing director and group CEO of ADNOC. “In line with our 2030 strategy, we look forward to creating further opportunities across the entire TA’ZIZ ecosystem for the next generation of local industry. The domestic production of critical industrial raw materials strengthens our supply chains,” said Jaber. “The project will manufacture ethylene dichloride, a key building block for production of PVC in India. This is a significant step in globalizing Reliance’s operations,” RIL’s Chairman and Managing Director, Mukesh Ambani said. “This important milestone further bolsters our long-standing relationship with ADNOC, reaffirming our faith in the global vision of the UAE’s wise leadership. It is also yet another testimony to the enormous potential in advancing India-UAE cooperation in value enhancement in the energy and petrochemicals sectors,” he added. Chlor-alkali is used in water treatment and in the manufacture of textiles and metals. Ethylene dichloride is typically used to produce PVC.
from Asharq AL-awsat https://english.aawsat.com/home/article/3054956/adnoc-reliance-sign-strategic-partnership
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