UAE - Mubasher: Reliance Industries, an Indian company specialised in energy, materials, retail, entertainment, and digital services, has established a wholly-owned subsidiary in the UAE.
Reliance International Limited (RINL) will conduct activities relating to the trading of crude oil, petroleum products, petrochemicals, and agricultural commodities, according to a recent bourse filing.
The parent company has invested $1 million in cash in the new subsidiary, which is yet to commence business operations.
It is noteworthy to mention that in June, Reliance signed an agreement to join a new chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC) production facility at TA’ZIZ, a chemical production hub and industrial ecosystem based in Ruwais in Abu Dhabi.
