Reliance Industries, India's largest private petrochemicals company, will develop a major new chemicals facility in partnership with Abu Dhabi National Oil Company at the new Ta'ziz Industrial Chemicals Zone in Ruwais.
It is understood that the deal, the first for Mukesh Ambani's Reliance Industries in the Middle East, is worth $2 billion.
The UAE and Indian companies will develop a facility to produce chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) within the zone.
Ta'ziz is a joint venture between Adnoc and state holding company ADQ being developed to use refined products as the basis for a range of chemicals and other derivatives used by industry.
The products being produced by the Reliance joint venture, particularly PVC, has a range of uses in pipes, flooring, medical equipment, cables and the automotive industry, among others.
The deal advances "India-UAE cooperation in value enhancement in the energy and petrochemicals sectors," said Mr Ambani, chairman and managing director of Reliance Industries and Asia's wealthiest man.
"The project will manufacture ethylene dichloride, a key building block for production of PVC in India. This is a significant step in globalising Reliance’s operations and we are proud to partner with Adnoc in this important project for the region," he added.
India is a key importer of Middle East crude, particularly from the UAE, and has looked to strengthen its energy partnership over the last few years.
Reliance, Adnoc and Saudi Aramco have previously joined forces to develop a massive $70bn greenfield integrated refining and petrochemicals complex in Maharashtra state on India's west coast.
"In line with our 2030 strategy, we look forward to creating further opportunities across the entire Ta’ziz ecosystem for the next generation of local industry," said Dr Sultan Al Jaber, UAE minister of industry and advanced technology and Adnoc managing director and group chief executive.
"The domestic production of critical industrial raw materials strengthens our supply chains, drives in-country value and accelerates the UAE’s economic diversification," he added.
The industrial raw material plant being built by Adnoc and Reliance will have the capacity to produce 940,000 tonnes of chlor-alkali, 1.1 million tonnes of ethylene dichloride and 360,000 tonnes of PVC on an annual basis.
The manufacture of these chemicals will "create opportunities for local industry to source critical raw materials in the UAE for the first time," Adnoc said in a statement.
The production of critical chemicals will create opportunities for domestic manufacturing and will feed into other sectors.
Chlor-alkali is essential for the manufacturing of caustic soda, which is in turn used in producing aluminium
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
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Seemar’s top six for the Dubai World Cup Carnival:
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2. North America
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MATCH INFO
Manchester United v Everton
Where: Old Trafford, Manchester
When: Sunday, kick-off 7pm (UAE)
How to watch: Live on BeIN Sports 11HD
UAE currency: the story behind the money in your pockets
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Gertrude Bell's life in focus
A feature film
At one point, two feature films were in the works, but only German director Werner Herzog’s project starring Nicole Kidman would be made. While there were high hopes he would do a worthy job of directing the biopic, when Queen of the Desert arrived in 2015 it was a disappointment. Critics panned the film, in which Herzog largely glossed over Bell’s political work in favour of her ill-fated romances.
A documentary
A project that did do justice to Bell arrived the next year: Sabine Krayenbuhl and Zeva Oelbaum’s Letters from Baghdad: The Extraordinary Life and Times of Gertrude Bell. Drawing on more than 1,000 pieces of archival footage, 1,700 documents and 1,600 letters, the filmmakers painstakingly pieced together a compelling narrative that managed to convey both the depth of Bell’s experience and her tortured love life.
Books, letters and archives
Two biographies have been written about Bell, and both are worth reading: Georgina Howell’s 2006 book Queen of the Desert and Janet Wallach’s 1996 effort Desert Queen. Bell published several books documenting her travels and there are also several volumes of her letters, although they are hard to find in print. Original documents are housed at the Gertrude Bell Archive at the University of Newcastle, which has an online catalogue.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
