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RELIANCE Industries and Indian Petrochemicals Corp Ltd (IPCL) are evaluating whether to enter into a tolling arrangement involving the latter's cracker complex in Baroda, Gujarat, India, sources close to the two companies told ACN.
Under a proposal that is being studied, Reliance would meet the entire naphtha requirement of the Baroda cracker from its refinery in Jamnagar, Gujarat. It would also supply catalysts as well as other raw materials.
In return, Reliance would pay a conversion fee to IPCL and market the petrochemicals produced at the Baroda complex.