(ET)
Abu Dhabi state-owned Chemicals Derivatives Company (TA’ZIZ) and Indian conglomerate Reliance Industries have agreed to start a more than $2 billion chemical production partnership in Ruwais, Abu Dhabi, TA’ZIZ said in a statement .
The joint venture, called TA’ZIZ EDC & PVC, will construct and operate a chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility, the statement said. The JV aims to export the materials to target markets in Southeast Asia and Africa as well as selling them domestically.
“Representing the first production of these chemicals in the UAE, the project will enable the substitution of imports and the creation of new local value chains, while also meeting growing demand for these chemicals globally,” TA’ZIZ said.
