11 June 2007 16:45 [Source: ICIS news]
By Divya Chowdhury
MUMBAI (ICIS news)--India’s Reliance Industries Limited’s (RIL) is likely to announce the full configuration of its new cracker complex at Jamnagar, Gujarat, in the next three months, said Nikhil Meswani, executive director at the company.
The $3bn (€2.24bn) cracker, which is targeted for completion in 2010-11, would produce 2m tonnes/year of olefins.
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Downstream material such as monoethylene glycol (MEG), high density polyethylene (HDPE), low density PE (LDPE) and linear LDPE (LLDPE) are being evaluated as possibilities in the complex’s derivatives slate, sources close to the company had said earlier.
“The time has come for Reliance to consolidate in the PE business,” Meswani said.
He pointed out that the acquisition of Indian Petrochemical Corporation Limited (IPCL) a few years back had expanded Reliance’s PE portfolio to include LDPE, besides LLDPE and HDPE.
Propylene derivatives under consideration include propylene oxide, isopropyl alcohol (IPA) and acrylonitrile. Reliance has already announced a joint venture with Rohm & Haas for producing acrylic acid.
Reliance is also looking to consolidate its position in the rubber business. Following the IPCL acquisition, RIL entered the polybutadiene rubber business and it is now looking at styrene butadiene rubber and butyl rubber, Meswani said.
He added that some of the downstream projects could be pursued in partnership.
He also said that Reliance would soon look again at its options for paraxylene (PX), orthoxylene (OX) and benzene production at the second refinery.
($1 = €0.75)
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