RIL plans to venture into overseas petrochem market
14 Nov '06
1 min read
During a meeting between Mukesh Ambani, the Chairman of Reliance Industries Ltd and visiting Belgian Prime Minister Guy Verhofstadt, Ambani has offered to buy the British Petroleum's Belgian refining and petrochemical assets valued at 2-3 billion dollars.
The BP plant makes purified terephthalic acid used to make plastic bottles for carbonated beverages and paraxylene.
If the deal is finalised, it would be RIL's first major overseas acquisition in petroleum and petrochemical sector.
marketing@alchempro.com
