Reliance and Gail Sign Global Petchems Cooperation Deal

Reliance Industries and Gail (India) have signed a memorandum of understanding (MoU) for joint cooperation in petrochemicals. A working group with representatives from Reliance and Gail will explore opportunities to establish petchem complexes in feedstock-rich countries outside India, under the terms of the agreement. The group will focus on the Mideast, Russia, and other countries of the former Soviet Union. Gail and Reliance plan to form a special purpose vehicle for establishing petchem complexes overseas. The two companies also will examine possibilities for...

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