Reliance Industries, TA'ZIZ in $2-bn JV for chemical production partnership

According to RIL executives, the equity structure of TA'ZIZ EDC & PVC has not been finalised yet

Mukesh Ambani-led Reliance Industries (RIL) is firming up its first investment in West Asia with Abu Dhabi Chemical Derivatives Company RSC (trading as TA’ZIZ). An RIL statement said the two have agreed to launch TA’ZIZ EDC & PVC, a chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi.

“The new joint venture (JV) will construct and operate a chlor-alkali, ethylene dichloride (EDC), and polyvinyl chloride (PVC) production facility, with an investment of more than $2 billion,” stated the RIL statement.

This is the first investment by RIL in the region, the statement added. This is in line with