 Reliance will sign a memorandum of understanding with the Gujarat State Government committing to the investment of $15.2 billion (Rs 675.5 billion) on several projects including the Jamnagar special economic zone (SEZ), refinery and polypropylene (PP) plant development, coal and lignite gasification, port use, city gas distribution and a cross-country gas pipeline linking Godavari in Andhra Pradesh State to Karnavati in Gujarat. The company also plans to establish a private university focused on life sciences in the Gujarat.
According to Indian news reports, Reliance may also be interested in acquiring GE's plastic business. GE is asking $10.0 billion (Euro 7.7 billion). Other potential buyers include Dow Chemical, BASF, SABIC, and private equity groups. |
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