million tons chemical plant.

"RIL and GAIL believe that there is a huge demand for petrochemical products worldwide. This would need new capacities and therefore, provide opportunity of setting up global size petrochemical complexes, preferably gas-based, in gas- rich countries is being explored," he said.

Back home, the two companies would also cooperate in areas of distribution and marketing of petrochemicals, including 'product-swapping'.

Considering the geographical location of market centres for certain grades vis-a-vis the production centres and logistic advantages, the two companies shall consider product swapping for maximising realisation, industry sources said.

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