BOMBAY (AFX-ASIA) – Reliance, India’s largest private sector group, has announced plans to acquire the ailing and debt-ridden National Organic Chemicals (NOCIL), a move which should help to bolster Reliance’s leading position in the country’s petrochemicals industry. The group said its associate, Sunbright Cement, had signed an agreement with NOCIL to acquire the latter’s petrochemicals…
INDIA: Reliance to consolidate petrochemical business; plans NOCIL takeover
Posted on January 16, 2004 by EnergyAsia