Reliance has partnered with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) to invest $2 billion in setting up a petrochemical production facility in the UAE.
Key pointe to note –
- TA’ZIZ is aimed at developing economic competitiveness of UAE.
- TA’ZIZ comprises of three main zones: the TA’ZIZ Industrial Chemicals Zone (TICZ, chemicals production), TA’ZIZ Light Industrial Zone (TLIZ, to convert the outputs of the Chemical Zone into consumable products) and TA’ZIZ Industrial Services Zone (TISZ, ecosystem of services required by the industrial zones and the wider Ruwais complex).
- Within TICZ, Abu Dhabi state energy giant ADNOC and state holding company ADQ have created an investment platform to fund and oversee the development of world-scale chemicals production.
- JV with Reliance will construct and operate a chlor-alkali, ethylene dichloride and polyvinyl chloride production facility at TICZ
- TICZ projects are currently in the design phase with project start up targeted in 2025.
Reliance continues to go aggressive in all it’s key businesses including oil, chemicals, retail, telecom and renewables. Check the various key initiatives at Reliance company page.