RIL to venture into rig manufacturing business

Mumbai, Apr 5: Mukesh Ambani's Reliance Group is mulling over entering into the rig manufacturing business and looking for potential partners for the same.

''We are exploring avenues to enter into the rig manufacturing business,'' RIL President Petroleum International Business Atul Chandra told newspersons on the sidelines of a conference, organised by the Confederation of Indian Industry, here today. The Company is also looking for a suitable partner for this and would enter into rig manufacturing by the end of this year or the beginning of next year, Mr Chandra added.

When asked about the location and investment plan, he said, ''It is too early to comment on the developments and the projects because the plan is not yet finalised.'' The Company has not initiated talks with any potential partner so far, he added.

UNI