Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Reliance Sees $700M in Sales

Reliance Industries, India's biggest company by market value, expects sales of as much as $700 million from a venture with Sibur of Russia in the first year, said Nikhil Meswani, a Reliance executive director.

The two companies will invest $450 million in a synthetic rubber facility at Jamnagar in the western state of Gujarat, which will start in mid-2014, according to a statement Tuesday. Reliance will hold 74.9 percent in Reliance Sibur Elastomers, while Sibur will have the remaining stake.

The venture will produce 100,000 metric tons of butyl rubber annually and will supply India's automotive industry, which currently imports its requirement of 75,000 tons a year, Reliance said. The venture is open to exports, Meswani told reporters in Mumbai.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more