INDUSTRY NEWS

RIL moves to hive off oil-to-chemicals biz for investors

Reliance Industries Ltd (RIL) has announced an arrangement for hiving off its O2C (oil to chemicals) business into a wholly-owned subsidiary, which can attract investors.

In a regulatory filing, RIL said the rationale of the scheme is that the nature of risk and returns in the O2C business are distinct from the other businesses of RIL and this business attracts a distinct set of investors and strategic investors.

“RIL has been exploring various opportunities to bring in strategic and other investors in the O2C business. Investors have expressed interest to make an investment in the O2C business,” it said.

Source
ET Energy World
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