On a lazy Sunday afternoon while every
other person was resting or taking an afternoon nap, most of India’s business
community had its eyes set on Reliance Industries’ Corporate Park in Mumbai. As
the chairman Mukesh Ambani held up a bottle of something dirty, sludgy and green,
a reassuring calm spread across the room. No outsider could ever comprehend the
wonderment at this strange colored liquid but those who knew what it was were
fully smiling from ear to ear.
This was the liquid that Reliance
had been searching for from the past six years. Deep in The Bay Of Bengal a
team of scientists, engineers and servicemen had toiled away braving everything
from the uncertain weather to the prospect of not finding anything. So when Mukesh
Ambani formally announced that his company had struck crude oil 8000 feet under
the sea, India’s business community rejoiced and so did the people.
In what can be termed as an attempt to strengthen its position as the world’s biggest manufacturer of polyesters, Reliance Industries Limited has recently acquired the assets of the troubled Malaysian polyester manufacturer, Hualon Corporation, from the latter’s receivers and managers for $ 250 million.
On a lazy Sunday afternoon while every
other person was resting or taking an afternoon nap, most of India’s business
community had its eyes set on Reliance Industries’ Corporate Park in Mumbai. As
the chairman Mukesh Ambani held up a bottle of something dirty, sludgy and green,
a reassuring calm spread across the room. No outsider could ever comprehend the
wonderment at this strange colored liquid but those who knew what it was were
fully smiling from ear to ear.
