RIL and TA'ZIZ launch strategic JV for US$ 2 billion chemicals projects
News: RIL and Abu Dhabi Chemicals Derivatives Company RSC Ltd (“TA’ZIZ”) will launch ‘TA’ZIZ EDC & PVC’, a chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais. The strategicJV will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than US$2 billion.
Views: This is RIL's first major investment in MENA region in petrochemicals segment. The company said that with feedstock availability in UAE and growing demand for PVC in Indian markets, the investment will optimise resources and will be beneficial for the company in chemicals segment, going ahead.