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| Indian Firm looks at Europe for a Market | 16.05.2008 |
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RIL ( Reliance Industries Ltd ) plans to set up a storage and distribution base in Europe to sell petroleum products to European customers.Currently RIL produces 17 MT of petroleum products at Jamnagar,Gujarat.And by end 2008 it would have added capacity of 28 MT at the same location.This would make it the largest refining complex in the world.RIL is looking at Antwerp as a location to store and distribute petroleum products.The major reason seems to be nearly 180 million customers ( a considerable % of Europes population) lives within 500 kms from Antwerp.Further adequate storage capacity at Antwerp makes it attractive.Incidentally RIL had to close nearly 1500 fuel stations in India as it could not compete with Government owned firms that sell petrol and diesel at subsidised prices. Market Watch,May 10, 2008
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