Reliance, Sibur form 100,000 tonne/year India butyl rubber JV

21 February 2012 14:26  [Source: ICIS news]

LONDON (ICIS)--Reliance Industries has agreed to form a 100,000 tonne/year butyl rubber joint venture with Russia’s Sibur, the Indian petrochemicals major said on Tuesday.

The $450m (€342m) joint venture, called Reliance Sibur Elastomers, will be located at Jamnagar in India’s western Gujarat state.

After start-up, expected for mid-2014, Reliance Sibur Elastomers will be India’s first butyl rubber manufacturing facility, Reliance said.

The plant would meet demand from India’s automotive sector, replacing imports, the company added.

Reliance will hold 74.9% in the venture, with Sibur holding the remaining 25.1%.

The plant will run on Sibur’s proprietary butyl rubber technology. Sibur will also be in charge of the plant’s basic engineering design.

The companies first announced the joint venture in May 2010 but at the time did not disclose capacity or other details.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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