RIL and Dow inch closer to signing MoU

16-Mar-07

Reliance Industries, which has been in talks for a JV with Dow has inched closer to signing an Memorandum of Understanding (MoU) with the US company. Dow is a US$49 bln company and is ranked as the world's second-largest chemicals company. If the MoU is signed, the US$20 bln Reliance will catapult into the number two slot in the global petrochem industry. The negotiations are believed to have commenced after last September, when Dow announced plans to transfer its commodity assets to JVs with strategic partners who had access to low-cost raw materials.