(RE)
Reliance Industries and Abu Dhabi National Oil Company (ADNOC) have signed a framework agreement to explore development of an Ethylene Dichloride (EDC) facility in Ruwais, the companies said in a joint statement.The planned unit will help RIL in procuring EDC, a key raw material used in the manufacturing of a polymer product, Polyvinyl chloride (PVC). PVC products are used in the housing and agriculture sectors, and demand for it, particularly in the Indian vinyls market, is expected to grow.
“This is a significant step towards Reliance’s commitment to pursue backward integration and will pave the way for enhancing PVC capacity in India to cater to the fast growing domestic market. This cooperation ideally combines advantaged feedstock and energy from the UAE with Reliance’s execution capabilities and the growing Indian market,” RIL executive director Nikhil Meswani was quoted as saying in the statement.
