Reliance to invest $3 bn in petrochem ops

Indian energy major Reliance Industries will invest $3 billion to expand its petrochemicals unit in western Gujarat state, a financial newspaper reported on Tuesday.

Reliance will build a two-million-tonne chemical plant in Jamnagar that will use gas from its refining operations as feedstock, the newspaper said, citing a person familiar with the plan.

“We have already secured the technology to use the gas as feedstock and work on the plant is going to begin this year,” the paper quoted the source as saying.

Officials at Reliance Industries could not immediately be reached by Reuters for comment.

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