Reliance seeks global footprint by 2009-2010

12 June 2007 15:13  [Source: ICIS news]

By Divya Chowdhury

MUMBAI (ICIS news)--India’s Reliance Industries Limited’s (RIL) is actively looking at establishing partnerships in India and making overseas acquisitions in the next 2-3years, said a senior company executive.

“Having a global footprint in today’s scenario is important and RIL wants a presence across all major markets of the world. There will be several options to consolidate over the next two to three years,” Nikhil Meswani, executive director at the company told ICIS news late on Monday.

Meswani elaborated that RIL had three options for going global while meeting shareholders' expectations.

“One way is to expand the business geographically. The other is to acquire companies in our existing businesses. The third way to go would be to buy out companies that would offer us a new line of products,” he said.

“RIL will also continue to look for acquisitions in places where there is either a feedstock advantage or where the feedstock can be linked to a growing market,” he added.

In India, RIL is open to looking at partners for derivatives downstream of its planned 2m tonne/year cracker at the Jamnagar special economic zone. It has already signed a joint-venture with Rohm & Haas for an acrylic acid project.

One of the reasons for getting a partner would be technology, Meswani said.

Meswani pointed out that RIL exports products to 95 countries, with China being a major market. The next step would be to invest in China, he added.

 

By: Divya Chowdhury
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