ERJ staff report (DS)
Mumbai, India - Reliance Industries Limited (RIL) and Sibur, are to form a joint venture to make butyl rubber in India. The joint venture is to be named Reliance Sibur Elastomers Private Limited and will produce 100,000 tons of butyl rubber per year in Jamnagar, India.
The JV will be the first manufacturer of butyl rubber in India when it comes on stream in mid-2014. Reliance will hold a total of 74.9 percent of the shares, while Sibur will account 25.1 percent. The JV will invest US$450 million to construct the facility,
Reliance and Sibur also signed a technology licence agreement facilitating use by the JV SIbur's proprietary butyl rubber production technology at the new production facility. SIbur will develop basic engineering design for the facility and also train the JV's personnel at SIbur's production site in Togliatti, Russia.
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Press release from Reliance