Business News

·        RIL polyester plant to come up in Gujarat

·        Rhodia acquires PI industry biz

RIL polyester plant to come up in Gujarat

Reliance Industries Ltd (RIL) on Wednesday said it has begun implementation of a world scale polyester project in Gujarat.

RIL plans to set up “2.3 million tonnes of purified terephthalic acid (PTA) plant at Dahej with the ability to increase it by 1.15 mt more at a later stage”, the company said in a statement in New Delhi.

The plants will be integrated with its paraxy line plants at Jamnagar for raw material. RIL did not give investments involved in the projects nor the deadline for completion.

Rhodia acquires PI industry biz

French firm Rhodia on Wednesday said it has completed the acquisition of the engineering plastics business of Rajasthan based diversified firm PI Industries Ltd for an undisclosed amount.

“We received an enthusiastic feed back from both PI Industries and Rhodia's customers and suppliers regarding this strategic move”, Rhodia Engineering Plastics' president Francois Hincker said.