Mukesh Ambani-led Reliance Industries Ltd (RIL) on Tuesday entered into an agreement with Abu Dhabi National Oil Company (Adnoc) to explore development of an ethylene dichloride (EDC) facility in Abu Dhabi.
RIL said in a statement that it had signed a framework agreement with Adnoc to evaluate setting up of this facility next to Adnoc’s Ruwais unit.
“Under the terms of the agreement, Adnoc and RIL will evaluate the potential creation of a facility that manufactures EDC adjacent to Adnoc’s integrated refining and petrochemical site in Ruwais, Abu Dhabi,” the company said.
The joint venture will give Adnoc an indirect access to India’s growing demand for petrochemicals. For its part, RIL will secure raw materials for its Polyvinyl chloride (PVC) business in India.
