RIL signs pact with Russian firm to set up JV in India

RIL, which signed a memorandum of understanding with the Russian petrochemical major, said the butyl rubber will be produced at its integrated petrochemical site in Jamnagar.

SIBUR will provide proprietary technology for butyl rubber polymerisation and its finishing while RIL will supply monomers and its world class infrastructure and utilities,a press release said here.

"Indian rubber industry is growing rapidly on the back of automobile demand in India and the sub-continent. This step reinforces RIL's commitment to the synthetic rubber industry in India," RIL said in the release.

SIBUR, which is a leading player in Russia and Eastern Europe, operates across the entire petrochemical value chain from gas processing to the production of monomers and plastics, synthetic rubbers, mineral fertilisers, tyres and industrial rubber goods.