BS Reporter / Mumbai :

Domestic energy behemoths to float SPV to set up petrochemical plants in Russia, West and Central Asia

Reliance Industries (RIL), the country's most valuable company, and state-run gas transporter GAIL India today agreed to jointly explore opportunities for setting up petrochemical complexes in feedstock-rich countries.

The two companies will set up a special purpose vehicle (SPV) for the purpose. A working group, consisting of representatives from both companies, will examine the opportunities once they are identified, RIL said in a statement today.

The working group is examining opportunities in Russia, Qatar, Saudi Arabia, UAE, Algeria, Nigeria and former Soviet republics. In addition, the companies would also examine the possibilities of mutual cooperation in the domestic market, the statement said. Full Story...

Posted by dcjaya at December 26, 2007 10:01 PM