Question : Reliance and TA’ZIZ has recently(December 2021) formed a joint venture for $2 billion chemical projects in Ruwais. TA’ZIZ is the chemical derivatives company of which country ?
a. Kuwait
b. Qatar
c. UAE
d. Saudi Arabia
Ans. c.
Related facts —
- Reliance Industries on December 7 announced the launch of a strategic joint venture(JV) with Abu Dhabi Chemicals Derivatives Company RSC Ltd(TA’ZIZ) for chemical projects worth $2 billion in Ruwais.
- Ruwais is a city located some 240 km(150 mi) west of Abu Dhabi City, in the Western Region of the Emirate of Abu Dhabi.
- The JV will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than $2 billion.
- It boosts the long-standing strategic partnership between the state-owned Abu Dhabi National Oil Company (ADNOC) and RIL in the MENA region.
- Here MENA stands for — the Middle East and North Africa.
Link:
https://www.moneycontrol.com/news/business/reliance-abu-dhabi-based-taziz-launch-joint-venture-for-2-billion-chemical-projects-in-ruwais-7800981.html
https://www.business-standard.com/article/companies/reliance-industries-ta-ziz-in-2-bn-jv-for-chemical-production-partnership-121120800053_1.html