Indian multinational conglomerate company Reliance Industries is going to create a joint venture TA’ZIZ-ADNOC and the sovereign fund ADQ with a total investment of $2 billion in the emirate.
According to the official statements of ADNOC, the capacity of the JV plants will include 940 million tons/year of chlorine alkali, 1.1 million tons/year of ethylene chloride and 360 thousand tons/year of polyvinyl chloride.
Moreover, ADNOC may be on the list of foreign companies that will receive a large stake in the privatization of Bharat Petroleum. While a significant increase in demand for petroleum products is expected in India, and according to some estimates, it will require a 40% increase in production volumes.
The development of relations between the UAE and India, including the creation of a joint venture, is an important stage for the formation of the USA-Israel-UAE-India axis of influence. The new Washington-led alliance will be aimed at countering the growing influence of China.
Within this framework, the United States relies on the UAE, which increasingly confirms its title of an agent of American interests in the global energy market.
Today, Washington needs a counterweight to Saudi Arabia. The Kingdom, taking advantage of its monopoly position, is playing its own game, which has already been observed during the recent energy crises. The last US President Donald Trump was even forced to threaten Prince Bin Salman with the withdrawal of US troops from his country in response to the Saudi dumping, which brought the entire US shale industry to the brink of collapse.
It is the UAE that has become a Washington’s Trojan horse, which is used to prevent the rapprochement of Russia, China and India on the basis of energy cooperation.
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