Reliance Industries Ltd is in talks with British oil giant BP to buy its petrochemical plant in Malaysia, as per Economic Times. It said the meeting between RIL and BP officials with regards to the purified terephthalic acid (PTA) plant in Kuantan, Pahang, with an annual capacity of 610,000 tons, was held in Hong Kong.
In 2007, RIL acquired Malaysia-based firm Hualon Corp, an integrated textile company and the largest player in South Asian markets. Acquisition of the PTA plant in Kuantan would therefore help RIL integrate it with Hualon's polyester capacities. |
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