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RIL to commission 900,000 tons per annum of PP capacity

12 Jun '08

2 min read

Reliance Industries Ltd has informed about the Chairman's Statement delivered at the 34th Annual General Meeting of the Company held on June 12, 2008.

Diversified group of manufacturing companies, active in polymers, chemicals, fiber intermediates, petroleum, textiles and procurement.

Petrochemicals have been the second growth platform for Reliance. It encompasses a wide rage of polymers, synthetic rubbers and chemicals.

The acquisition of IPCL and its subsequent merger into Reliance brought new product categories to Reliance. This provides the sector with a natural hedge against business cyclicality in individual product categories.

In a short span, Petrochemicals have come to occupy a significant position and have enhanced our standing amongst global peers.

In most of the product categories, Reliance is amongst or close to the top ten petrochemical players in the world. Reliance would be commissioning 900,000 tonnes per annum of polypropylene capacity at Jamnagar this year.

This would make Reliance the 3rd largest polypropylene producer in the world. Last year I talked about the Jamnagar petrochemical project. The two million tonnes off-gas cracker, with matching downstream capacities, will give a new fillip to value creation by this business.

The unique refinery-petrochemical integration would give Reliance a competitive edge and make it robust. Growth of the Indian economy and improved standard of living has accelerated demand for petrochemicals.

The petrochemicals business would thus be driven by new capacities that Reliance would be bringing on-stream in the context of buoyancy in demand.

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