Reliance Industries Signed Agreement For Investment In ADNOC
Reliance Industries signed an agreement for investment in Abu Dhabi Petrochemical Center, investment amount not disclosed.
Reliance Industries has signed an agreement to invest in the Abu Dhabi Petrochemicals Centre.
The company said in a statement that Reliance Industries, which provides oil to telecommunications services, will be involved in the Ruwais project of Abu Dhabi National Oil Company.
However, no information was given about the investment amount.
“Abu Dhabi National Oil Company (ADNOC) has signed an agreement to join a new world-class Chlor Alkali, (PVC) production facility at TAZIZ in Ruwais, Abu Dhabi, Reliance,” the company said.
The statement did not give any information about the amount of the settlement.
The company said the project will be conducted at TAZIZ Industrial Chemicals Zone, a joint venture between ADNOC and ADQ.
“This agreement will help capitalize on the growing demand for critical industrial raw materials and strengthen the strength of ADNOC and Reliance as global industrial and energy majors.”
Petrochemical, refining, and gas development projects are currently under construction, with several projects also recently completed in the downstream and industry portfolio.
Under the terms of the agreement, TA’ZIZ and Reliance will build an integrated plant with a capacity to produce 940 thousand tons of Chlor-alkali.
Also 11 million tons of ethylene dichloride, and 360 thousand tons of PVC annually.
Ethylene dichloride is commonly used for the production of PVC, including housing, infrastructure, and consumer goods.
The market for these chemicals is expected to grow from the needs of the growing demand, especially in Asia and Africa.
New prices of Petrol-Diesel released today, know what is the price of 1 liter of oil.
After Tuesday’s rise in petrol and diesel prices, there was no change on Wednesday. A day before this, while the price of petrol was increased by 35 paise per liter, diesel was also increased by 28 paise.
Petrol in Delhi remained stable at Rs 98.81 per liter on Wednesday. Here diesel also remained at Rs 89.18 per liter.
Petrol is most expensive in Rajasthan’s Sri Ganganagar, where it is now around Rs 110 per liter. Even the diesel price in the city is high.
