Reliance Industries Ltd.

Reliance Industries (RIL) has inked a Memorandum of Understanding (MoU) with Russian petrochemical giant SIBUR at the recently-concluded Vibrant Gujarat Summit at Gandhinagar to set up South Asia’s first butyl rubber halogenation unit at RIL’s integrated petrochemical site in Jamnagar, Gujarat.

The unit will produce 60,000 MT of halogenated butyl rubber every year under Reliance Sibur Elastomers (RSEPL), a Joint Venture (JV) of which RIL owns 74.9% and SIBUR 25.1%. Apart from the planned halogenation unit, the JV owns a 1,20,000 MT per annum butyl rubber plant, currently under construction at the same venue which will provide the necessary butyl rubber feed to the halogenation unit.

Reliance Industries is India’s largest private sector company, with a consolidated turnover of Rs 296,091 crore ($44.7 billion), cash profit of Rs 40,737 crore ($6.1 billion), and net profit of Rs 27,630 crore ($4.2 billion) for the year ended March 31, 2016. It’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.