Reliance announces JY with Russian petrochemicals Sibur

摘要

Reliance Industries has announced a joint venture with Russian petrochemicals giant Sibur for production of butyl rubber in Jamnagar, Gujarat, with a combined investment of US$450 mln (Rs 2,250 crore). RIL will hold 74.9% stake in the JV, while Sibur would own 25.1%. To be named Reliance Sibur Elastomers Pvt Ltd, the JV will produce 1,00,000 tpa of butyl rubber, a synthetic rubber used extensively in auto and other sectors. The joint venture would invest US$ 450 mln to construct the manufacturing facility in Jamnagar, which is expected to be commissioned by mid-2014.