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Reliance and Sibur to Invest $450 Million in Butyl Rubber JV in India
6:47 AM MST | February 21, 2012 | Deepti Ramesh
Reliance Industries and Sibur (Moscow) say they will invest a total of $450 million to construct their previously announced butyl rubber joint venture facility at Jamnagar, India. Plans for the project were first announced in 2010, and the companies will form a jv named Reliance Sibur Elastomers, for the project. Reliance will hold a 74.9% stake in the jv and Sibur will hold the remaining 25.1%. The jv facility, which will have a production capacity of 100,000 m.t./year, will be the first manufacturer of butyl rubber in India and the fourth largest supplier of...
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