This enables production of olefins at competitive capital and operating costs, the company said in a late night press release. The board of Reliance Industries has decided to transfer its gasification business into a wholly-owned subsidiary. The scheme will allow RIL to evaluate ways to unlock the value of syngas with a collaborative and asset light approach. The company will be looking to induct investors in the gasifier subsidiary and capture the value of upgradation in RIL through partnerships in different chemical streams. It will require the approval of stock exchanges, creditors, shareholders, national company law tribunal (NCLT) and other regulatory authorities, the note said.

Source: The Telegraph November 25, 2021 03:23 UTC