Reliance Industries Ltd (RIL) has initiated talks with Dow Chemical Company (having presence in 175 countries) for a strategic alliance in the petrochemical and polymers businesses. The strategic alliance could include take over and operations of Dow's units in Asia and East Europe by RIL. The alliance will also encompass joint effort on R&D and technology as well as forging ties for petrochem complexes overseas. The tie up will offer dual benefits: an alliance with Dow will provide an impetus and benefit RIL in its global ambitions. RIL has proven execution capabilities that can aid in optimizing costs - hence Dow also stands to benefit from the tie-up with RIL.
This follows RIL's tie up with Chevron for refining - besides Chevron taking a 5% equity stake in Reliance Petroleum Ltd, the two majors have decided to co-operate on a spectrum of areas, including overseas projects.
10-Jul-06 
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