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Business
Reliance Buys Rest Of Indian Petrochemicals
March 19, 2007
| A version of this story appeared in
Volume 85, Issue 12
Reliance Industries, India's dominant petrochemical producer, has agreed to buy the 54% of Indian Petrochemicals Corp. Ltd. that it doesn't already own. IPCL produces polyethylene, polypropylene, polyvinyl chloride, ethylene glycol, and polyester and is considered the country's second largest player. The firm, privatized by the government in 2002, recorded income of about $260 million in its latest fiscal year on sales of $2.7 billion.
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