RIL finalises rubber JV with Russia's Sibur

183737 Investors following Reliance. Share this News with them.

0

Like this story, share it with millions of investors on M3

RIL finalises rubber JV with Russia's Sibur

Energy conglomerate Reliance Industries said on Tuesday it has finalised a joint venture with Sibur, Russia's largest petrochemical company, to set up a butyl rubber plant in India.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about Reliance See previous management interviews See what other Experts & Brokerages are saying about Reliance Reliance BSE | NSE 28/05/12 Are Mutual Funds betting on Reliance?

Energy conglomerate Reliance Industries said on Tuesday it has finalised a joint venture with Sibur, Russia's largest petrochemical company, to set up a butyl rubber plant in India.

The joint venture will invest USD 450 million to construct the facility in Jamnagar in western India, which is expected to be commissioned in the second half of 2014, Reliance said in a statement.

Reliance will hold a 74.9% stake in the joint venture and Sibur will own the rest.

Also check out the CNBC-TV18 video for more details.

Reliance, India's biggest company by market value, is currently in the midst of doubling its petrochemicals business, spurred by rising demand from consumer goods, automobiles, construction and organised retail sectors in Asia's third-largest economy.