The state-owned Abu Dhabi National Oil Company (ADNOC) made a Framework Settlement with Reliance Industries to explore the construction of an Ethylene Dichloride facility in Ruwais.
During the inking of the contract were present UAE Minister of State and ADNOC Group CEO, Dr. Sultan Ahmed Al Jaber, and RIL Chairman and Managing Director, Mukesh Ambani. The settlement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOC’s Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director.
Under the terms of the settlement, ADNOC and RIL will study the potential formation of a facility that manufactures EDC adjacent to ADNOC’s integrated refining and petrochemical site in Ruwais and strengthen the businesses’ existing ties supporting the future partnership in petrochemicals.
ADNOC would supply ethylene to the potential joint venture and give access to world-class infrastructure at Ruwais, while RIL will deliver operational expertise and entry to the massive and rising Indian vinyl sector, in which it is a crucial participant.
EDC is an essential building block for the manufacture of PVC, a polymer product in more and more higher demand worldwide. PVC performs a vital role in the housing and agriculture industries, and demand for PVC, particularly in the Indian vinyl sector, is anticipated to grow considerably.
ADNOC’s expansion and new funding in downstream will speed up the delivery of its 2030 strategy, powered by a $45 billion funding, and form a more flexible, resilient, and diverse energy enterprise, optimizing its efficiency and stretching the dollar from every barrel of oil.