Reliance, Abu Dhabi-based TA’ZIZ form joint venture for $2 billion chemical projects in Ruwais

Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) on December 7 announced the launch of a strategic joint venture with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA'ZIZ) for chemical projects worth $2 billion in Ruwais, a town located 240 km to the west of Abu Dhabi City.

The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than $2 billion,” RIL said in a statement. The joint venture, named ‘TA’ZIZ EDC & PVC’, will be a “world-scale chemical production partnership” at the TA’ZIZ Industrial Chemicals Zone in Ruwais.