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Article: INDIA'S RELIANCE TO INJECT UP TO US$500 MLN IN MALAYSIAN UNIT.
- Article from:
- AsiaPulse News
- Article date:
- December 11, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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KUALA LUMPUR, Dec 11 Asia Pulse - Indian-based Reliance Industries Ltd (BSE:500325) will inject some US$400-$500 million into just-acquired Hualon Corp (M) Sdn Bhd, senior vice president Anil Rajvansi said.
This is to reenergise Hualon's operations as well as complement Reliance as one of the world's largest polyester manufacturers, he told Bernama in an interview in New Delhi recently.
He spoke of a "great synergy" between the two and said Reliance is poised to capitalise on Hualon's capabilities as a leading polyester producer in Malaysia.
"It will be about US$400-500 million. We are in the process of investing that kind of money in acquiring ...