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RIL plans to invest USD12 bln chemical expansion

April 25/2012
(polyestertime) -- Despite tepid performance in Q4, Reliance Industries Ltd. Plans to expand its petrochemicals businesses in anticipation that robust demand from the polymer sector will help offset weak global fuel sales. 

USD8 bln will be utilized to boost capacity and USD4 bln will be invested on a plant to make a combustible gas for powering its refineries and petrochemical.  This outlay amount will be its highest since completing its second refinery in 2008 despite posting its biggest profit decline in three years.

RILs net income declined 21% to Rs 42.4 bln in the three months ended March 31, according to an April 20 eegulatory filing.  Pretax profit from petrochemicals fell 17% to Rs 21.7 bln, while earnings from refining dropped 32%. The two businesses accounted for 78% of the companys pretax profit in this quarte
Author:Anna Larionova
Tags:PVC, PE, neftehimiya, Reliance Industries.
Category:General News
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