India's largest company slashes polymer production
23/10/2008
Reliance Industries (RIL), India’s largest company by market capitalisation, is reported to have closed half its polypropylene plant at Jamnagar in the state of Gujarat because demand for the polymer has slowed.
The plant has a capacity of around a million tonnes per year, but RIL has cut this by 50% by shutting down two of the four manufacturing lines, local media reported.
RIL is Asia’s largest producer of polypropylene and the seventh largest in the world. It controls around 70% of India’s polypropylene market and provides 3% of global supply.
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