UAE’s Shaheen joins TA’ZIZ, Reliance JV to construct $2bn chemical project in Ruwais

RIYADH: UAE’s Shaheen Chem Investment will join a proposed joint venture between Abu Dhabi Chemicals Derivatives Co., or TA’ZIZ, and Reliance Industries to build a $2 billion chemical facility.

The TA’ZIZ Industrial Chemicals Zone is a project involving ADNOC and ADQ, Abu Dhabi Government Media Office reported.

To be built in Ruwais, the Chlor-Alkali, Ethylene Dichloride and Polyvinyl Chloride facility will supply local manufacturers, replacing imported chemicals and export to international markets.

“The partnership supports our national strategy to drive the growth and diversification of the country’s industrial base, strengthen domestic supply chains and enable the private sector to ‘Make it in the Emirates’, in line with the leadership’s wise directives,” CEO of TA’ZIZ, Khaleefa Yousef Al-Mheiri, said.