India's Nayara to invest $850 mln to build petrochemical plant [Reuters]
W.R. Grace & Co. (GRA)
Last w.r. grace & co. earnings: 4/30 06:00 am
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Source: Reuters
India's Nayara to invest $850 mln to build petrochemical plant NEW DELHI, July 16 (Reuters) - Russian oil major Rosneft -backed Indian refinery Nayara Energy said on Tuesday it will be investing $850 million to expand into petrochemical. Nayara plans to set up a 450,000 tonnes a year Polypropylene plant, the company said in a statement. The company has licensed technology from W.R. Grace & Co to produce broad range of phthalate-free products from its 400,000 barrel per day refinery in western Gujarat state. Reporting by Nidhi Verma; Editing by Rashmi Aich Our Standards: The Thomson Reuters Trust Principles.
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