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Reliance eyes brownfield expansion - Views on News from Equitymaster
 
 
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  • Jun 14, 1999

    Reliance eyes brownfield expansion

    Reliance Industries may be looking to acquire SVC Superchem's 125,000 tpa Purified Terepthalic Acid (PTA) plant, reports the Economic Times

    The report based on market sources states that the deal has been stalled on the issue of an appropriate price. However, both companies flatly deny that any negotiations are on. A company spokesperson from Reliance stated, 'We are not looking at any acquisitions'. Jafar Imam, spokesperson, reiterated the statement for SVC Superchem. In a statement to the press, he said, 'No such move has been made by either Reliance or us in this regard. We have already commenced trial production'.

    The ET however, claims from informed sources that officials from Reliance have had a look-over at SVC's plant mainly to service its north-India based clients. The Mathura (UP) based plant could offer Reliance substantial freight advantage for transporting PTA from there as opposed to from its Hazira (Gujarat) based plant to north-Indian customers.

     

     

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