The Board of Directors of Indian Petrochemicals Corporation Limited (IPCL) has approved the merger of Apollo Fibres Ltd. (AFL), Central India Polyester Ltd. (CIPL), India Polyfibres Ltd. (IPL), Orissa Polyfibres Ltd. (OPL), Recron Synthetics Ltd. (RSL) and Silvassa Industries Pvt Ltd. (SIPL) with IPCL, subject to necessary approvals. All the companies are part of the Reliance group.
IPCL produces MEG, an important feedstock for the manufacture of PSF and PFY. Considering the global dynamics of demands and supply of MEG, it is considered advantageous to convert MEG locally into value added products, like PSF and PFY instead of exporting or supplying MEG as an intermediate product. AFL, CIPL, IPL, OPL, RSL and SIPL are engaged in manufacture of Polyester Staple Fibre (PSF) and Polyester Filament Yarn (PFY). The twin advantage of assured feedstock utilization and combined manufacturing facilities of AFL, CIPL, IPL, OPL, RSL and SIPL would enhance efficiencies throughout the value chain.
29-Apr-06 
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