Reliance Industries, Abu Dhabi Chemicals Derivatives Company sign formal shareholder agreementRELIANCE - 2624 Change: 144.60 (5.83 %)
News: Reliance Industries (RIL) and Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) have signed the formal Shareholder Agreement for the TA’ZIZ EDC & PVC project. The TA’ZIZ EDC & PVC joint venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with a total investment of over US$2 billion.
Views: Chemicals set to be produced by JV have a wide range of industrial applications, enabling local supply chains and meeting growing demand in key export markets of Southeast Asia and Africa. Final Investment Decisionfor the chemical project is expected later this year.