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RIL mulls entry into rig-manufacturing

Reliance Industries Ltd plans to enter this new business either by end of this fiscal or beginning of the next, an RIL official said.
PTI | By HT Correspondent, Mumbai
UPDATED ON APR 05, 2008 03:55 PM IST

Reliance Industries Ltd (RIL) on Saturday said it is mulling an entry into the rig manufacturing business.

"We are certainly looking at entering the rig manufacturing business," RIL President Petroleum International Business Atul Chandra told reporters in Mumbai on Saturday.

The company would most likely rope in a partner for this business, he added.

RIL plans to enter this new business either by end of this fiscal or beginning of the next, he said.

Chandra parried questions as to the location of the project, saying that the time was not yet right to comment on the issue. The company has not initiated talks with any potential partner so far, he added.

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