Russian/Indian jv started up

Russian/Indian jv started upA JOINT venture between Indian firm Reliance Industries and Russian petrochemical company Sibur has started its operations in Mumbai, India, focusing on constructing a 100,000-tonne/year butyl rubber facility in Jamnagar. Sibur owns 25.1% and Reliance 74.9% of the new business known as Reliance Sibur Elastomers. The deal was announced in February this year.
A license agreement was also signed wherein Sibur’s proprietary butyl rubber technology will be used at the new plant. The venture, which will widen Sibur’s geographic reach into India and Southeast Asia, will be looking into the petrochemical products market in the region as well as support business development , working alongside Indian partners. It will also oversee Sibur’s employees who will be coming to India for installations and start-up work at the new plant.(PRA)