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Reliance to shift export base to Dubai

Reliance Industries, which has set up facilities in Jebel Ali Free Zone to export petrochemicals, would source products from its plants in Hazira and Jamnagar for markets in Europe and Asia.

''It is basically warehouse facilities, a shift of our export base from western India to Dubai where we see greater advantages in terms of logistics, facilities, proximity to markets and savings on costs,'' a senior official of the Reliance Industries told the Gulf News.

Asked if the company had plans for manufacturing or any other unit in the free zone, the official said there were no plans for the short term.

''But, we are looking at various markets for expansion,'' he added.

In early June this year, Reliance Industries, which has total assets worth $11.2 billion, took over Indian Petrochemicals Corp, the second-largest petrochemical company in India, for Rs 14.9 billion.

The merged entity is expected to give a greater fillip to exports of petrochemicals with an eye on some new emerging markets.

UNI

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