RIL to transfer gasification undertaking to subsidiary
The Hindu
This enables production of olefins at competitive capital and operating costs, says the company.
The Board of Reliance Industries Ltd (RIL) has decided to implement a Scheme of Arrangement to transfer Gasification Undertaking into a Wholly-Owned Subsidiary (WOS).
The Gasification project at Jamnagar was set up to produce syngas to meet the energy requirements as refinery off-gases, which earlier served as fuel, were repurposed into feedstock for the Refinery Off Gas Cracker (ROGC).
“This enables production of olefins at competitive capital and operating costs. Syngas as a fuel ensures reliability of supply and helps reduce volatility in the energy costs.,” RIL said in a late night statement on Wednesday.
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