Home / Companies / News / Reliance Industries inks pact for $2-bn UAE deal; in talks with ADNOC

Reliance Industries inks pact for $2-bn UAE deal; in talks with ADNOC

RIL derives over 60 per cent of its revenue and nearly 55 per cent of its operating profit from its oil-to-chemicals (O2C) business

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3 min read Last Updated : Apr 27 2022 | 12:29 AM IST

Reliance Industries (RIL) and the Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi.

The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications. This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company.

For the uninitiated, RIL derives over 60 per cent

Topics : Reliance Industries United Arab Emirates ADNOC

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