As part of its plans to expand beyond India,
Reliance Industries is reported to be in advanced stage of discussions with North American plastics and petrochemicals major Nova Chemicals. No official comments could be obtained from RIL, which is also looking for a possible acquisition.
The planned alliance with Nova Chemicals, which has operations across the US, Canada and Europe with an annual turnover of over US$6.5 billion, could include product swaps, infrastructure sharing as well as joint exploration of business growth opportunities. The two companies could also consider equity partnership at a later stage of the joint venture.
19-Mar-07 
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