Reliance plans $24 b investment in petrochemical projects

Reliance Industries plans to spend $24 billion over the next ten years in setting up petrochemicals projects in the Middle East, company Chairman and Managing Director Mukesh Ambani is reported to have said.

"We plan to set up a number of petrochemical plants in the next decade, with each costing $4-6 billion,'' the Dubai-based Gulf News quoted Ambani as saying.
Mr Ambani had yesterday told a conference here that building $5-billion petrochemicals plants in the Middle East will be the best way for Reliance, to meet India's quadrupling demand of chemicals in the next 10 years.

Reliance wants to tap the growing demand for chemicals in Asia, especially in China and India.


Courtesy:thehindu.com
Complete artical HERE