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Reliance to Invest $12 billion in Value-Added Chemicals in the Next Five Years

1:44 AM MDT | May 5, 2011 | Natasha Alperowicz

Reliance Industries (RIL) says it plans to invest between $10 billion-$12 billion in chemicals over the next five years. Mukesh Ambani, chairman of RIL, in a wide-ranging inverview with The Economic Times of India, said that the company plans to create a huge rubber business from scratch, with the intention of catering to the Asian tire industry. "In technological innovation, we will see a lot of development potential in what I call value-added chemicals," he said. The company is reinvesting in polyester and plastics as the quality of life in India...

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