iStock/sharrocks
by Kudakwashe MuzoriwaThe Abu Dhabi National Oil Company (ADNOC) has signed a framework agreement with India’s Reliance Industries to explore the development of an ethylene dichloride facility in Ruwais.
ADNOC and Reliance Industries agreed to evaluate the potential creation of a facility that manufactures ethylene dichloride adjacent to the state-owned energy giant’s integrated refining and petrochemical site in Ruwais and strengthen the companies’ existing relationship supporting future collaboration in petrochemicals.
In a statement, ADNOC stated that it will 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.
ADNOC’s expansion and new investment in downstream will accelerate the delivery of its 2030 strategy, powered by a $45 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.
MOST READ
HALAL ECONOMY
UBS launches new private client programHALAL ECONOMY
Jordan agrees $1.3 billion IMF programme
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
