Page 8 - DMEA Week 49 2021

DMEA COMPANIES DMEA

TA’ZIZ and Reliance

launch chemicals JV

MIDDLE EAST ABU Dhabi Chemicals Derivatives Co. (TA’ZIZ) Meanwhile, Reliance chairman and manager
and India’s Reliance Industries Ltd (RIL) agreed director Mukesh Ambani said: “India’s need for
this week to form the TA’ZIZ EDC & PVC joint PVC to propel its growth, and the value from
venture (JV) for their planned $2bn investment the abundantly available feedstock in UAE, pro-
in a chemical project at Ruwais. vides a win-win partnership for both companies.
The deal follows the June agreement between Close co-operation in the region based on shared
the parties to develop a plant at the TA’ZIZ objectives is key as we optimise resources and
Industrial Chemicals Zone to produce chlor-al- work together to enrich the lives of our citizens.”
kali, ethylene dichloride (EDC) and polyvi- TA’ZIZ itself is a JV development between
nyl chloride (PVC) to capitalise “on growing Abu Dhabi National Oil Co. (ADNOC) and
demand for these critical industrial raw materi- holding company ADQ that seeks to drive the
als and leverage the strengths of ADNOC and development of industrial projects within the
Reliance as global industrial and energy leaders.” planned Ruwais downstream hub and promote
The new JV will build and operate the chemi- economic diversification.
cals facility, which will have a capacity of 940,000 Following its launch in November 2020,
tonnes per year of chlor-alkali, 1.1mn tpy of marine and land surveys have now been com-
EDC and 360,000 tpy of PVC. pleted. ADNOC and ADQ have awarded con-
HE Dr Sultan Ahmed Al Jaber, UAE Minis- tracts for the first stages of development of the
ter of Industry and Advanced Technology and site and work is underway on geotechnical and
ADNOC managing director and CEO, said that topographical and marine bathymetric surveys.
the JV “will manufacture critical industrial raw ADNOC said that industrial chemical zone
materials for the first time in the UAE, support- projects are currently in the design phase, with
ing our national strategy to empower the indus- start-up targeted in 2025.
trial sector to become the driving force of a truly Tenders have also been awarded for the initial
dynamic economy over the next 50 years.” design of seven chemicals derivatives projects
He added: “It will help strengthen domestic and work is ongoing. TA’ZIZ anticipates making
supply chains, drive in-country value and accel- final investment decisions (FIDs) for the projects
erate the UAE’s economic diversification, in line and awards of related engineering, procurement
with the leadership’s wise directives.” and construction (EPC) contracts in 2022.™

P8 www. NEWSBASE .com Week 49 09•December•2021