Reliance aims to build rubber business in Asia

ERJ staff report (DS)

Mumbai, India -- Reliance Industries Ltd is preparing a plan to build a synthetic rubber industry based on Asian expansions. A spokesman for Reliance confirmed local press reports that the company is preparing a wide-ranging plan to make monomers and polymers to serve the developing tyre and rubber industry across Asia. He declined to give any details.

The stories came from an interview given by Reliance Chairman Mukesh Ambani to India's Economic Times newspaper. Ambani was quoted saying, “We are developing a whole new rubber business. We will make RIL one of the world's largest players in rubber as the whole tyre industry moves to Asia.”

He was further quoted saying, “It will be located at all our three sites depending on where we have the feedstock. So it will be at Hazira, Jamnagar, some at Baroda. “ he added, the rubber unit , “will be of a significant scale and size to cater to Asia's needs for the next 10 years.”

Ambani ruled out entering the tyre industry, but emphasised that RIL's role would be as a supplier to that industry.

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Full interview with RIL Chairman, Mukesh Ambani from Economic Times (see pages 2.3 for the rubber references)

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