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Reliance Industries in talks with Nova

(PTI) / 19 March 2007

MUMBAI — Reliance Industries, is understood to be in advanced stage of discussions with North American plastics and petrochemicals major Nova Chemicals as part of its bid to spread wings to foreign shores.

Reliance Industries (RIL) Group Chairman Mukesh Ambani, is in the US with his top confidantes to discuss a potential joint venture with Nova Chemicals, sources close to the development said.

No official comments could be obtained from executives of RIL, which is also looking for a possible acquisition in the global retail space and is understood to be talking to Carrefour and the likes of Sainsbury and Marks and Spencer.  
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