Rumors: Reliance Industries to collaborate with Dow Chemical

Rumors: Reliance Industries to collaborate with Dow Chemical

Market rumors claim that Indian company Reliance Industries is considering getting into a joint venture with the U.S.-based Dow Chemical Co.

The reports claimed that Reliance would buy 59 percent of this $20 billion chemicals and plastics joint venture.

If the news is true, Reliance would become the latest Indian company to expand globally as they aim to gain access to technology and low cost machinery.

Another Indian company Tata Steel recently made news when they bought Anglo-Dutch Corus Group Plc.

Financial institution Citigroup wrote in a note to their clients on this rumor: “Reliance would benefit from Dow’s strong global customer base, advanced technology and established bases in the world’s developed markets.”