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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.
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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.
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