Reliance Links Up With Petrochem Co. For $450M Rubber Plant

Law360, New York (February 21, 2012, 5:15 PM EST) -- Indian private-sector energy giant Reliance Industries Ltd. has teamed up with Russia's largest petrochemical company to form a joint venture that will build a $450 million synthetic rubber plant, India's first such facility, the companies announced Tuesday.

The Siberia-Urals Petrochemical Co., one of the fastest-growing petrochemical companies in the world, will invest about $113 million in the joint venture Reliance Sibur Elastomers Pvt. Ltd., with Reliance responsible for the remaining $337 million, a 74.9 percent share, according to a joint statement the companies issued Tuesday....
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