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ADNOC and Reliance Industries to explore development of ethylene dichloride facility in Ruwais

December 13/2019

MOSCOW (MRC) -- The Abu Dhabi National Oil Company (ADNOC) signed a Framework Agreement with Reliance Industries Limited (RIL) to explore development of an Ethylene Dichloride facility in Ruwais, according to Hydrocarbonprocessing.

The signing of the agreement was witnessed by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Mr. Mukesh D. Ambani, RIL Chairman and Managing Director. The agreement was signed by Mr. Abdulaziz Alhajri, Executive Director of ADNOCís Downstream Directorate, and Mr. Nikhil R. Meswani, RIL Executive Director.

Under the terms of the agreement, ADNOC and RIL will evaluate the potential creation of a facility that manufactures EDC adjacent to ADNOCís integrated refining and petrochemical site in Ruwais, Abu Dhabi and strengthen the companiesí existing relationship supporting future collaboration in petrochemicals.

ADNOC would supply ethylene to the potential joint venture and provide access to world-class infrastructure at Ruwais, while RIL will deliver operational expertise and entry to the large and growing Indian vinyls market, in which it is a key participant.

EDC is a basic building-block for the manufacture of PVC, a polymer product in increasingly higher demand globally. PVC plays a critical role in the housing and agriculture sectors, and demand for PVC, particularly in the Indian vinyls market, is expected to grow significantly.

"The agreement with Reliance Industries Limited is a product of our strong relationship, spanning over two decades, and a testament to ADNOCís continued ability to cultivate smart and mutually beneficial international partnerships. We look forward to working closely with RIL to identify opportunities to capitalize on the strengths of the Ruwais ecosystem, while delivering a compelling new commercial platform for satisfying the large Indian PVC market as well as demand for other fast-growing segments in the region," Mr. Abdulaziz Alhajri said.

"This is a significant step towards Relianceís commitment to pursue backward integration and will pave the way for enhancing PVC capacity in India to cater to the fast growing domestic market. This co-operation ideally combines advantaged feedstock and energy from the UAE with Relianceís execution capabilities and the growing Indian market," Mr Nikhil Meswani said.

ADNOCís expansion and new investment in downstream will accelerate the delivery of its 2030 strategy, powered by a USD45 billion investment, and create a more flexible, resilient and diverse energy business, optimizing its performance and stretching the dollar from every barrel of oil it produces. Ruwaisí appeal as a unique feedstock engine, capable of producing the full range of essential building blocks along the petrochemical value chain will see the Ruwais Derivatives and Conversion Parks become a global destination of choice for investors and manufacturers wishing to establish a strategic presence in the UAE. Such investments have the potential to generate numerous specialized local career opportunities, while significantly boosting ADNOCís in-country value creation.

As MRC informed earlier, A USD3.1 billion project to introduce crude processing flexibility, at the Abu Dhabi National Oil Company (ADNOC) owned Ruwais oil refinery, was announced in February, 2018.

According to MRC's DataScope report, exports of suspension polyvinyl chloride (SPVC) from Russia totalled 175,600 tonnes in the first eleven months of 2019, up by 22% year on year. Imports increased more significantly - by 230% year on year to 48,500 tonnes.

Reliance Industries is one of the world's largest producers of polymers. Thus, the company produces among others polypropylene, polyethylene and polyvinyl chloride.


mrcplast.com
Author:Margaret Volkova
Tags:PVC, etilen dihlorid, SPVC, ADNOC, Reliance Industries, India, United Arab Emirates (UAE), Russia.
Category:General News
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